v3.26.1
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 7 – Income Taxes

 

The components of our deferred tax assets are as follows:

 

   2025   2024 
         
Deferred tax assets:       
Net operating loss carryforwards  $1,170,000   $1,045,000 
Less valuation allowance   (1,170,000)   (1,045,000)
Net deferred tax assets  $-   $- 

 

The benefit of income taxes for the years ended December 31, 2025 and 2024 consist of the following:

 

   2025   2024 
U.S. federal          
Current  $-   $- 
Deferred   -    - 
State and local          
Current   -    - 
Deferred   -    - 
Valuation allowance   -    - 
Income tax provision (benefit)  $-   $- 

 

At December 31, 2025, the Company has federal and state net operating loss carryforwards of approximately $65,000 of losses that begin to expire in 2037. Beginning in 2018, net operating losses generated for federal purposes will no longer expire. As of December 31, 2025, the amount of federal net operating loss carryforwards that do not expire is approximately $1,036,000. Realization of the deferred tax assets is dependent on the Company’s ability to generate sufficient taxable income.

 

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that one portion or all of the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. Based upon the level of historical losses and the uncertainty of future taxable income over the periods which the Company will realize the benefits of its net deferred tax assets, management believes it is more likely than not that the Company will not fully realize the benefits on the balance of its net deferred tax assets and, accordingly, the Company has established full valuation allowance on its net deferred tax assets.