INCOME TAXES (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
| Income Tax Disclosure [Abstract] |
|
| SCHEDULE OF DEFERRED INCOME TAX ASSETS AND LIABILITIES |
Deferred
income tax assets and liabilities at December 31, 2025 and 2024, consisted of the following temporary differences and carry-forward items:
SCHEDULE OF DEFERRED INCOME TAX ASSETS AND LIABILITIES
| | |
December 31, 2025 | | |
December 31, 2024 | |
| Deferred tax assets | |
| | | |
| | |
| Deductible temporary differences, net | |
$ | 9,828,985 | | |
$ | 974,718 | |
| Loss carryforwards | |
| 48,059,205 | | |
| 4,615,303 | |
| Expected tax rate | |
| 24.6 | % | |
| 24.6 | % |
| Total deferred tax assets | |
| 14,237,311 | | |
| 1,374,838 | |
| | |
| | | |
| | |
| Deferred tax liabilities | |
| | | |
| | |
| Deductible temporary differences, net | |
| 1,107,601 | | |
| 989,890 | |
| Expected tax rate | |
| 24.6 | % | |
| 24.6 | % |
| Total deferred tax liabilities | |
| 272,409 | | |
| 243,459 | |
| | |
| | | |
| | |
| Deferred tax valuation allowance | |
| (13,964,902 | ) | |
| (1,131,379 | ) |
| Net deferred tax asset | |
$ | - | | |
$ | - | |
|
| SCHEDULE OF INCOME TAX EXPENSE |
The
components for the income tax expense:
SCHEDULE
OF INCOME TAX EXPENSE
| | |
December
31, 2025 | | |
December
31, 2024 | |
| Taxable income | |
| | | |
| | |
| Financial statement pretax loss | |
$ | (52,228,923 | ) | |
$ | (3,239,916 | ) |
| Non-deductible expenses | |
| 48,465 | | |
| 8,978 | |
| Total taxable income | |
| (52,180,458 | ) | |
| (3,230,938 | ) |
| | |
| | | |
| | |
| Decrease (increase) in taxable temporary differences | |
| (117,711 | ) | |
| (756,932 | ) |
| Increase in deductible temporary differences | |
| 8,854,267 | | |
| 912,718 | |
| Federal taxable loss | |
$ | (43,443,902 | ) | |
$ | (3,075,152 | ) |
|
| SUMMARY OF VALUATION ALLOWANCE |
The
valuation allowance roll forward as of December 31 is as follows:
SUMMARY
OF VALUATION ALLOWANCE
| | |
2025 | | |
2024 | |
| Beginning balance | |
$ | 1,131,379 | | |
$ | 359,434 | |
| Increase due to current year activity | |
| 12,833,523 | | |
| 771,945 | |
| Ending balance | |
$ | 13,964,902 | | |
$ | 1,131,379 | |
|
| SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION |
The
schedule of effective tax rate reconciliation is as follows:
SCHEDULE
OF EFFECTIVE INCOME TAX RATE RECONCILIATION
| Year ended December 31, | |
2025 | | |
2024 | |
| Federal statutory rate | |
| 21.0 | % | |
$ | 10,968,074 | | |
| 21.0 | % | |
$ | (680,382 | ) |
| State income tax rate, net of federal benefit | |
| 3.6 | % | |
| 1,877,369 | | |
| 3.6 | % | |
| (116,459 | ) |
| Permanent differences | |
| (0.0 | )% | |
| (11,920 | ) | |
| (0.1 | )% | |
| 2,208 | |
| Effect of tax rate change | |
| 0.0 | % | |
| - | | |
| (0.7 | )% | |
| 22,688 | |
| Change in valuation allowance | |
| (24.6 | )% | |
| (12,833,523 | ) | |
| (23.8 | )% | |
| 771,945 | |
| | |
| 0.0 | % | |
$ | - | | |
| 0.0 | % | |
$ | - | |
|