INCOME TAXES |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | 9. INCOME TAXES
The Company’s tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items arising in that quarter. In each quarter, the Company updates its estimate of the annual effective tax rate, and if the estimated annual tax rate changes, the Company makes a cumulative adjustment in that quarter. The Company’s quarterly tax provision, and its quarterly estimate of its annual effective tax rate, are subject to significant volatility due to several factors, including the Company’s ability to accurately predict its pre-tax income and loss in multiple jurisdictions.
Income tax expense was $409,735 for the three months ended March 31, 2026. There was income tax expense recorded for the three months ended March 31, 2025. The Company’s income tax expense for the three months ended March 31, 2026 was primarily attributable to the gain on sale recognized during the period attributed to the sale of two of our Georgia facilities. The Company does not record a deferred tax provision as there is a full valuation allowance offsetting the Company’s net deferred tax assets.
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