v3.26.1
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)