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

6.INCOME TAXES

 

A reconciliation of income tax benefit to the amount computed at the estimated rate of 21% is as follows:

 

   2025   2024 
Expected income tax (expense) recovery  $71,800   $12,300 
Adjustment for non-deductible amounts   (25,000)    - 
Increase in valuation allowance   (46,800)   (12,300)
Income Tax Benefit, Net  $-   $- 

 

Significant components of deferred income tax assets are as follows:

 

   2025   2024 
Deferred income tax assets          
Net operating losses carried forward  $739,900   $688,800 
Valuation allowance   (739,900)   (688,800)
Deferred Income Tax, Net  $-   $- 

 

The Company has approximately $1,369,000 (2024: $1,379,000) in net operating losses carried forward which will expire between 2033 and 2038 if not utilized and approximately $2,144,000 (2024: $1,901,000) in net operating losses which will be carried forward indefinitely. Future tax benefits, which may arise as a result of these losses, have not been recognized in these financial statements, and have been offset by a valuation allowance.

 

Realization of the above losses carried forward is dependent on the Company filing the applicable tax returns with the tax authorities and generating sufficient taxable income prior to expiration of the losses carried forward. Continuing use of the acquired historic business or a significant portion of the acquired assets for two years after a change of control transaction is required, otherwise the annual net operating loss limitation on pre-change losses is zero. The two-year continuing use requirement has been met.