v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes [Abstract]  
Schedule of Company’s Loss Before Income Taxes

The Company’s loss before income taxes includes the following components:

 

   Years Ended December 31, 
   2025   2024 
United States loss before income taxes  $18,175,072   $7,639,148 
China loss before income taxes   85,904    264,246 
Total loss before income taxes  $18,260,976   $7,903,394 
Schedule of Components of Income Taxes Expense (Benefit)

Components of income taxes expense (benefit) consisted of the following:

 

   Years Ended December 31, 
   2025   2024 
Current:        
U.S. federal  $
-
   $
-
 
U.S. state and local   
-
    
-
 
China   
-
    
-
 
Total current income taxes expense  $
-
   $
-
 
Deferred:          
U.S. federal  $(3,585,262)  $(4,874)
U.S. state and local   (1,213,867)   (1,650)
China   77,641    93,437 
Total deferred income taxes (benefit)  $(4,721,488)  $86,913 
Change in valuation allowance   4,721,488    (86,913)
Total income taxes expense  $
-
   $
-
 
Schedule of U.S. Statutory Rate and the Company’s Effective Tax Rate

The table below summarizes the differences between the U.S. statutory rate and the Company’s effective tax rate for the years ended December 31, 2025 and 2024:

 

   Years Ended December 31, 
   2025   2024 
U.S. federal rate   21.0%   21.0%
U.S. state rate   7.1%   6.4%
Permanent difference   (4.2)%   (1.3)%
Non-US rate differential   0.0%   0.1%
True ups   1.9%   (27.3)%
U.S. valuation allowance   (25.9)%   1.1%
Total provision for income taxes   0.0%   0.0%
Schedule of Deferred Taxes

The Company’s components of deferred taxes as of December 31, 2025 and 2024 were as follows:

 

   December 31,
2025
   December 31,
2024
 
Deferred tax assets        
Stock-based compensation  $1,410,079   $1,598,257 
Disallowed business interest deduction   
-
    
-
 
Research and development expense   81,638    106,783 
Accrued directors’ compensation   102,166    104,977 
Accrued settlement   301,047    140,904 
Partnership investment   
-
    2,167,965 
Lease liability   1,687    1,687 
Capital loss limitation   1,846,243    149,394 
Net operating loss carryforward   22,942,772    17,648,077 
Total deferred tax assets, gross   26,685,632    21,918,044 
Valuation allowance   (26,506,126)   (21,784,638)
Total deferred tax assets, net  $179,506   $133,406 
Deferred tax liabilities          
Fixed assets and intangible assets book/tax basis difference  $(179,506)  $(133,406)
Right-of-use assets   
-
    
-
 
Total deferred tax liabilities  $(179,506)  $(133,406)
Net deferred tax assets  $
-
   $
-