Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of provision for income taxes |
| Schedule of provision for income taxes |
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2025 |
|
|
2024 |
|
| Current income tax provision |
|
|
|
|
|
|
| Federal |
|
$ |
- |
|
|
$ |
- |
|
| State |
|
|
- |
|
|
|
26,768 |
|
| Foreign |
|
|
813,809 |
|
|
|
149,894 |
|
| Total |
|
|
813,809 |
|
|
|
176,662 |
|
| Deferred income tax provision |
|
|
|
|
|
|
|
|
| Federal |
|
|
- |
|
|
|
- |
|
| State |
|
|
- |
|
|
|
- |
|
| Foreign |
|
|
- |
|
|
|
- |
|
| Total |
|
|
- |
|
|
|
- |
|
| Total provision for income taxes |
|
$ |
813,809 |
|
|
$ |
176,662 |
|
|
| Schedule of deferred tax assets and liabilities |
| Schedule of deferred tax assets and liabilities |
|
|
|
|
|
|
|
|
| |
|
December 31, |
|
| |
|
2025 |
|
|
2024 |
|
| Deferred tax assets: |
|
|
|
|
|
|
|
|
| NOL carryforward |
|
$ |
98,979,757 |
|
|
$ |
85,790,968 |
|
| R&D credit carryforward |
|
|
2,559,479 |
|
|
|
2,559,479 |
|
| Share-based compensation |
|
|
775,115 |
|
|
|
893,280 |
|
| Interest expense |
|
|
- |
|
|
|
- |
|
| ROU liabilities |
|
|
392,436 |
|
|
|
545,917 |
|
| Deconsolidation of subsidiary |
|
|
- |
|
|
|
18,171,409 |
|
| Accruals and other |
|
|
449,347 |
|
|
|
4,148,610 |
|
| Total deferred tax assets |
|
|
103,156,134 |
|
|
|
112,109,663 |
|
| Valuation allowance |
|
|
(102,791,983 |
) |
|
|
(111,592,614 |
) |
| Deferred tax liabilities: |
|
|
|
|
|
|
|
|
| Intangible assets |
|
|
- |
|
|
|
- |
|
| ROU assets |
|
|
(166,951 |
) |
|
|
(222,963 |
) |
| Depreciation |
|
|
(197,200 |
) |
|
|
(294,086 |
) |
| Net |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of income tax provision benefit |
| Schedule of income tax provision benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
December 31,
2025 |
|
|
December 31,
2024 |
|
| |
|
Amount |
|
|
Rate |
|
|
Amount |
|
|
Rate |
|
| U.S. Federal statutory tax rate |
|
$ |
5,132,635 |
|
|
|
21.0 |
% |
|
$ |
2,555,583 |
|
|
|
21.0 |
% |
| State and local income taxes, net of federal income tax effect |
|
|
(6,350 |
) |
|
|
0.0 |
% |
|
|
435,178 |
|
|
|
3.6 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign tax effects |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Malaysia |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Statutory tax rate difference |
|
|
813,809 |
|
|
|
3.3 |
% |
|
|
149,894 |
|
|
|
1.2 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Change in valuation allowance |
|
|
(8,800,631 |
) |
|
|
-36.0 |
% |
|
|
1,234,193 |
|
|
|
10.1 |
% |
| Nondeductible expenses |
|
|
5,586,729 |
|
|
|
22.9 |
% |
|
|
1,374,084 |
|
|
|
11.3 |
% |
| Return to provision true-ups |
|
|
(2,740,381 |
) |
|
|
-11.2 |
% |
|
|
119,458 |
|
|
|
1.0 |
% |
| Foreign rate differential |
|
|
(5,695,283 |
) |
|
|
-23.3 |
% |
|
|
(1,033,475 |
) |
|
|
-8.5 |
% |
| State tax rate changes |
|
|
4,912,482 |
|
|
|
20.1 |
% |
|
|
(1,305,012 |
) |
|
|
-10.7 |
% |
| Loss of expired net operating losses |
|
|
1,361,228 |
|
|
|
5.6 |
% |
|
|
656,428 |
|
|
|
5.4 |
% |
| Adjustment on deferred foreign intangible |
|
|
- |
|
|
|
0.0 |
% |
|
|
(3,745,067 |
) |
|
|
-30.8 |
% |
| Other adjustments |
|
|
249,571 |
|
|
|
1.0 |
% |
|
|
(264,602 |
) |
|
|
-2.1 |
% |
| |
|
$ |
813,809 |
|
|
|
3.3 |
% |
|
$ |
176,662 |
|
|
|
1.5 |
% |
|
| Schedule of valuation allowance |
| Schedule of valuation allowance |
|
|
|
|
|
|
|
|
| |
|
December 31,
2025 |
|
|
December 31,
2024 |
|
| Beginning balance |
|
$ |
111,592,614 |
|
|
$ |
110,358,421 |
|
| Change charged to income tax expense |
|
|
(8,800,631 |
) |
|
|
1,234,193 |
|
| Ending balance |
|
$ |
102,791,983 |
|
|
$ |
111,592,614 |
|
|