Income Taxes (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
| Income Taxes [Abstract] |
|
| Schedule of Differences between U.S. Statutory Federal Rate Estimated Effective Tax Rate |
The table below summarizes the differences between the U.S. statutory
federal rate and the Company’s estimated effective tax rate for the three months ended March 31, 2026 and 2025:
| | |
March 31, 2026 ($) | | |
March 31, 2026 | | |
March 31, 2025 ($) | | |
March 31, 2025 | |
| U.S. Statutory Rate | |
$ | (542,350 | ) | |
| (21 | )% | |
$ | 181,609 | | |
| 21 | %
|
| | |
| | | |
| | | |
| | | |
| | |
| AU/CA/MXN rates in excess of the US rate | |
| (30,868 | ) | |
| (1 | )% | |
| (4,593 | ) | |
| (1) | % |
| | |
| | | |
| | | |
| | | |
| | |
| Increase (decrease) in valuation allowance | |
| 590,370 | | |
| 22 | % | |
| (188,477 | ) | |
| (21 | )% |
| Permanent differences | |
| - | | |
| - | % | |
| - | | |
| - | % |
| Prior period true up | |
| (3,432 | ) | |
| (1 | )% | |
| - | | |
| - | % |
| Total provision for income taxes | |
$ | (13,720 | ) | |
| (1 | )% | |
$ | (11,460 | ) | |
| (1 | )% |
|
| Schedule of Deferred Tax Assets |
The Company has deferred tax assets, which have been fully reserved,
as follows as of March 31, 2026 and December 31, 2025:
| | |
March 31, 2026 | | |
December 31, 2025 | |
| Net operating Losses | |
$ | 10,703,792 | | |
$ | 11,993,073 | |
| | |
| | | |
| | |
| Obsolete inventory | |
| 26,326 | | |
| 26,326 | |
| Nonstatutory stock options | |
| 548,931 | | |
| 515,319 | |
| Other | |
| 57,750 | | |
| 43,313 | |
| Impairment of intangible asset | |
| 220,150 | | |
| 220,150 | |
| Amortization | |
| - | | |
| - | |
| Bad debt reserve | |
| - | | |
| - | |
| Other | |
| - | | |
| 2,815,819 | |
| Deferred tax asset | |
| 11,556,949 | | |
| 15,614,000 | |
| Valuation allowance for deferred tax assets | |
| (11,556,949 | ) | |
| (15,614,000 | ) |
| Net deferred tax assets | |
$ | - | | |
$ | - | |
|
| Schedule of Income Tax Provision (Benefit) |
Income tax provision (benefit) consists of the following for the three
months ended March 31, 2026 and 2025:
| | |
For the Three Months Ended March 31, | |
| Income tax provision (benefit): | |
2026 | | |
2025 | |
| Current | |
| | |
| |
| Federal | |
$ | - | | |
$ | - | |
| State | |
| - | | |
| | |
| Foreign | |
| (13,720 | ) | |
| (11,460 | ) |
| Total Current | |
| (13,720 | ) | |
| (11,460 | ) |
| Deferred | |
| | | |
| | |
| Federal | |
| - | | |
| - | |
| State | |
| - | | |
| - | |
| Foreign | |
| - | | |
| - | |
| Total Deferred | |
| - | | |
| - | |
| | |
| | | |
| | |
| Total income tax benefit | |
$ | (13,720 | ) | |
$ | (11,460 | ) |
|
| Schedule of (Loss) Income Before Taxes for Domestic and Foreign Jurisdictions |
The table below summarizes the (loss) income before
taxes for domestic and foreign jurisdictions:
| | |
March 31, 2026 | | |
March 31, 2025 | |
| | |
| | |
| |
| Domestic (U.S.) | |
$ | (2,239,496 | ) | |
$ | 916,230 | |
| Foreign | |
| (343,123 | ) | |
| (51,426 | ) |
| Total | |
$ | (2,582,619 | ) | |
$ | 864,804 | |
|
| Schedule of Income Tax Provision |
The table below summarizes the income tax expense
for the three months ended March 31, 2026 and 2025:
| | |
March 31, 2026 | | |
March 31, 2025 | |
| Federal | |
$ | - | | |
$ | - | |
| State | |
| - | | |
| | |
| Foreign | |
| (13,720 | ) | |
| (11,460 | ) |
| Total | |
$ | (13,720 | ) | |
$ | (11,460 | ) |
|