INCOME TAXES |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| INCOME TAXES | |
| INCOME TAXES | NOTE 10 – INCOME TAXES
The Company’s effective income tax rate for the three months ended March 31, 2026 and 2025 was 0.0% and 28.0% respectively. The difference in the effective income tax rate compared with the U.S. federal statutory rate of 21.0% is primarily due to the full valuation allowance recorded against its deferred tax assets.
The Company continues to assess the realizability of its deferred tax assets at each reporting date. Based on the weight of available evidence, management concluded that it is not more likely than not that the Company’s net deferred tax assets will be realized and, accordingly, the Company continues to maintain a full valuation allowance as of March 31, 2026. |