v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes [Abstract]  
Schedule of Domestic and Foreign Components of Income Before Provision for Income Taxes

Domestic and foreign components of income before provision for income taxes for each of the years ended December 31, 2025 and 2024 and for the period from November 9, 2023 (inception) to December 31, 2023, were as follows:

 

   2025   2024   2023 
             
Domestic  $(12,109,139)  $
-
   $
-
 
Foreign   (9,800,775)   (11,637,637)   (334,678)
    (21,909,914)   (11,637,637)   (334,678)
Schedule of Effective Income Tax Rate The following table reconciles the Cayman Island. Federal statutory income tax rate of 0% to the Company’s effective income tax rate for the year ended December 31, 2025 in accordance with the guidance in ASU No. 2023-09:
  

For the year ended

December 31, 2025

 
   Amount   Percent 
Foreign tax Effects          
UK          
Changes in valuation allowance  $289,401    (1.32)%
Nontaxable or nondeductible items          
Legal Fees   260,868    (1.19)%
Other   (550,269)   2.51%
           
Ghana          
Changes in valuation allowance   2,795,504    (12.76)%
Other   (2,795,504)   12.76%
Effects of Cross-border tax laws   
-
    
-
%
Changes in valuation allowances   
-
    
-
%
Nontaxable or Nondeductible items   
-
    
-
%
Changes in Unrecognized Tax Benefits   
-
    
-
%
Other Adjustments   
-
    
-
%
Effective Tax Rate  $
-
    
-
%
  

For the year ended

December 31, 2024

 
   Amount   Percent 
Provision for income taxes at statutory rate  $
-
    0.0%
Miscellaneous permanent items   154,871    (1.3)%
Transaction expenses   420,598    (3.6)%
Change in valuation allowance   3,204,495    (27.5)%
Foreign rate differential   (3,779,963)   32.5%
Income tax (expenses) benefit  $
-
    0.0%

 

  

For the period from
November 9, 2023
(inception) to

December 31, 2023

 
   Amount   Percent 
Provision for income taxes at statutory rate  $
-
    0.0%
Transaction expenses   27,718    (5.0)%
Change in valuation allowance   81,052    (27.5)%
Foreign rate differential   (108,770)   32.5%
Income tax (expenses) benefit  $
-
    0.0%
Schedule of Deferred Tax Assets and Liabilities

The Tax effects of the temporary differences and carryforwards that give rise to the deferred tax assets and liabilities consist of the following components:

 

   2025   2024 
Deferred tax assets:        
Depreciation  $33,072   $14,619 
ARO Accretion   1,031,450    362,950 
Net operating losses – non-current   5,224,878    2,826,926 
Total deferred tax assets   6,289,400    3,204,495 
           
Valuation allowance   (6,289,400)   (3,204,495)
Net deferred tax liabilities  $
-
   $
-
 
Schedule of Income Taxes Paid (Net of Refunds Received)

Income taxes paid (net of refunds received) consisted of the following (in thousands):

 

Tax Payments (net of refunds received)  2025   2024   2023 
Federal  $
 -
   $
 -
   $
 -
 
Foreign   
-
    
-
    
-
 
State   
-
    
-
    
-
 
Total  $
-
   $
-
   $
-