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

Income (loss) before income taxes consists of:

 

   For the Years Ended
December 31,
 
   2025   2024 
Domestic  $(37,841,287)  $(21,278,239)
Foreign   1,123,216    (258,610)
Income before taxes  $(36,718,071)  $(21,536,849)
   For the Years Ended
December 31,
 
   2025   2024 
Current provision          
Federal  $
-
   $
-
 
State   
-
    581 
Foreign   
-
    
-
 
Current provision for income taxes  $
-
   $581 
           
Deferred provision          
Federal  $124,223   $(4,045,818)
State   (275,872)   (105,464)
Foreign   10,338    (10,338)
Change in valuation allowance   141,311    4,161,621 
Deferred provision for income taxes  $
-
   $
-
 
Total provision for income taxes  $
-
   $581 
Schedule of Reconciles the U.S. Federal Statutory Tax The following table presents required disclosure pursuant to ASU No. 2023-09 and reconciles the U.S. federal statutory tax amount and rate to our actual global effective amount and rate for the year ended December 31, 2025:
   For the Year Ended
December 31, 2025
 
   Amount   Percent 
U.S. federal statutory tax rate  $(7,710,795)   (21.0)%
State income taxes, net of federal income tax effect   (282,645)   (0.8)
Foreign tax effects          
Puerto Rico          
Statutory tax rate difference between Puerto Rico and United States   (247,107)   (0.6)
Changes in valuation allowance   (10,338)   
-
 
Effect of cross-border tax laws          
Global intangible low-tax income   22,250    0.1 
Changes in valuation allowance   151,649    0.4 
Nontaxable or nondeductible items          
Change in Fair Value of SAFE agreements   3,647,367    9.9 
Transaction costs   548,015    1.5 
Loss on extinguishment of debt   1,202,942    3.3 
Deferred tax true-ups   2,551,581    6.9 
Other adjustments          
Other   127,081    0.3 
Effective tax rate  $
-
    0.0%
Schedule of Company’s Deferred Tax Assets

Significant components of the Company’s deferred tax assets are as follows for the year ended December 31, 2025:

 

   December 31,
2025
 
Deferred tax assets:    
Research and development tax credits  $262,178 
Lease liabilities   65,554 
Net operating losses   3,310,890 
Other   1,367,374 
Total deferred tax assets  $5,005,996 
      
Deferred tax liabilities:     
Right of use asset   (60,330)
Total deferred tax liabilities   (60,330)
Valuation allowance   (4,945,666)
Net deferred tax assets  $
-
 

 

Significant components of the Company’s deferred tax assets are as follows for the year ended December 31, 2024:

 

   December 31,
2024
 
Deferred tax asset (liability):     
Accrual to cash adjustment  $729,287 
Charitable contributions   1,618 
Change in fair value of SAFE agreements   3,106,508 
R&D expenditures   359,433 
R&D tax credit carryovers   239,142 
Right-of-use asset   (65,999)
Lease liability   56,893 
Stock options   55,481 
Federal net operating loss carryforwards   304,628 
Foreign net operating loss carryforwards   10,338 
State net operating loss carryforwards   7,028 
Valuation allowance   (4,804,357)
Net deferred taxes  $
-