v3.26.1
INCOME TAXES (Tables)
3 Months Ended
Mar. 31, 2026
INCOME TAXES  
Schedule of tax expense for federal income tax

 

 

March 31, 2026

 

 

December 31, 2025

 

Federal tax benefit at the statutory rate

 

$(394,371)

 

 

21.00%

 

$(997,649)

 

 

21.00%

State tax benefit at the statutory rate

 

 

-

 

 

 

0.00%

 

 

-

 

 

 

0.00%

Unallowed deductions

 

 

688

 

 

 

(0.04)%

 

 

587

 

 

 

(0.01)%

Stock based forbearance fee expense

 

 

-

 

 

 

0.00%

 

 

87,792

 

 

 

(1.85)%

Stock based compensation expense

 

 

198,130

 

 

 

(10.55)%

 

 

387,503

 

 

 

(8.16)%

Gain (loss) on settlement of debt

 

 

103,717

 

 

 

(5.53)%

 

 

-

 

 

 

0.00%

Change in valuation allowance

 

 

91,836

 

 

 

(4.89)%

 

 

521,767

 

 

 

(10.98)%

Total

 

$-

 

 

 

 

 

 

$-

 

 

 

 

 

Schedule of deferred tax assets and liabilities

 

 

March 31, 2026

 

 

December 31, 2025

 

Deferred tax assets:

 

 

 

 

 

 

Net operating loss carryforward

 

$15,162,259

 

 

$15,070,424

 

Timing differences

 

 

-

 

 

 

-

 

Total gross deferred tax assets

 

 

15,162,259

 

 

 

15,070,424

 

Less: Deferred tax asset valuation allowance

 

 

(15,162,259)

 

 

(15,070,424)

Total net deferred taxes

 

$-

 

 

$-