v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes [Abstract]  
Schedule of Income Tax (Benefit) Provision

The income tax (benefit) provision consists of the following:

 

    December 31,  
    2025     2024  
Current   $ (2,198,000 )   $ (2,387,000 )
Deferred     449,000       (188,000 )
Change in valuation allowance     1,749,000       2,575,000  
                 
    $ -     $ -  
Schedule of Effective Income Tax Rate

The reconciliation of the statutory federal rate to the Company’s effective income tax rate is as follows:

 

    December 31, 2025     December 31, 2024  
    Amount     %     Amount     %  
U.S federal income tax benefit at Federal statutory rate   $ (2,015,000 )     (21 )   $ (1,875,000 )     (21 )
State tax, net of federal tax effect     (753,000 )     (8 )     (700,000 )     (8 )
Non-deductible share-based compensation     1,019,000       11       -       -  
Change in valuation allowance     1,749,000       18       2,575,000       29  
                                 
Net   $ -       -     $ -       -  
Schedule of Deferred Tax Assets and Related Valuation Allowances

The primary components of the Company’s December 31, 2025 and 2024 deferred tax assets and related valuation allowances are as follows:

 

    December 31,  
    2025     2024  
             
Deferred tax asset for NOL carryforwards   $ (36,803,000 )   $ (34,605,000 )
Deferred tax asset for stock based compensation     (5,294,000 )     (5,743,000 )
Valuation allowance     42,097,000       40,348,000  
                 
Net   $ -     $ -