v3.26.1
INCOME TAX
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
INCOME TAX

NOTE 14 — INCOME TAX

 

For the periods ending March 31, 2026 and December 31, 2025, there was no provision for income taxes and deferred tax assets have been entirely offset by valuation allowances.

 

As of March 31, 2026 and December 31, 2025, the Company had net operating loss carry forwards of approximately $5,892,000 and $5,618,000, respectively. The carry forwards expire through the year 2044. The Company’s net operating loss carry forwards may be subject to annual limitations, which could reduce or defer the utilization of the losses as a result of an ownership change as defined in Section 382 of the Internal Revenue Code.

 

The tax computations are as follows:

 

  

March 31,

2026

  

December 31,

2025

 
Net losses before taxes  $(273,496)  $(1,969,172)
Adjustments to arrive at taxable income/loss          
Permanent differences:   —    — 
Temporary differences:   —    — 
Taxable (loss)   (273,496)   (1,969,172)
           
Current Year Taxable (loss)   (273,496)   (1,969,172)
NOL carried forward prior year (tax return)   (5,618,232)   (3,922,060)
NOL carried forward at period end  $(5,891,728)  $(5,618,232)
           
Deferred Tax Asset - Federal Rate (21%)   (123,727)   (1,179,829)
Deferred Tax Asset - State Rate   —    — 
Total Deferred Tax Asset   (123,727)   (1,179,829)
           
Valuation Allowance   (123,727)   (1,179,829)
Deferred tax per books  $—   $—