v3.26.1
INCOME TAXES (Tables)
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
SCHEDULE OF COMPONENTS OF LOSS BEFORE INCOME TAXES

The components of “Loss before income taxes” in the Consolidated Statements of Operations are as follows:

 

   March 31, 2026   December 31, 2025 
United States  $(400,662)  $(4,239,851)
Foreign (Korea)   (96,331)   (393,042)
Total loss before income taxes  $(496,993)  $(4,632,893)
SCHEDULE OF EFFECTIVE TAX RATE RECONCILIATION

The effective tax rate reconciliation is as follows:

SCHEDULE OF EFFECTIVE TAX RATE RECONCILIATION 

   March 31, 2026   March 31, 2026   December 31, 2025   December 31, 2025 
Loss before income taxes  $(496,993)      $(4,632,893)    
U.S. federal statutory tax benefit   (104,369)   (21)%   (972,908)   (21)%
State and local income taxes, net of federal benefit   

-

    

0

%   

-

    0%
Foreign (Korea) tax rate differential   10,693    2%   43,628    1%
Tax credits (Korean R&D)   

-

    

0

%   -    0%
Effect of changes in tax laws or rate   

-

    

0

%   -    0%
Cross-border tax effects   

-

    

0

%   -    0%
Permanent differences, goodwill impairment loss including nondeductible expenses   

-

    

0

%  -    0%
Permanent differences, debt extinguishment loss including nondeductible expenses   

-

    

0

%   245,328    5%
Permanent differences, gain on disposal of subsidiary including nondeductible expenses   

-

    

0

%   -    0%
Change in valuation allowance   93,676    19%   683,952    15%
Income tax expense (benefit)  $-    

0

%  $-    0%
Effective Tax Rate   -    

0

%   -    0%
SCHEDULE OF DEFERRED TAX ASSET

The deferred tax asset breakdown is as follows:

 

Deferred Tax Assets  March 31, 2026   December 31, 2025 
Net operating loss carryforwards – US Federal  $7,700,971   $7,254,895 
Net operating loss carryforwards – Republic of Korea   

-

    

-

 
Amortization differences   29,155    145,290 
IA Impairment differences   -    214,118 
Depreciation differences   35    260 
Lease liabilities and other temporary differences   11,829    48,713 
Bad debt   -    73 
Forex Translation Adjustment   (1,198)   (32,492)
Total deferred tax assets   7,740,792    7,630,858 
Valuation allowance   (7,740,792)   (7,630,858)
Net deferred tax asset   -    

-

 
Deferred Tax Liabilities   -    

-

 
Fixed asset basis differences   -    

-

 
Total Deferred Tax Liabilities   -    

-

 
Net Deferred Tax Asset (Liability)  $-

-

   $

-

 
SCHEDULE OF MOVEMENTS IN THE VALUATION ALLOWANCE

Movements in the valuation allowance for the period ended March 31, 2026 and the year ended 2025 were as follows:

 

Valuation Allowance  March 31, 2026   December 31, 2025 
Beginning Balance  $7,630,858   $7,640,764 
Additions Charged to Income Tax Expense   -   (9,906)
Reductions / Reversals Credited to Income Tax Expense   

109,934

    - 
Ending Balance  $7,740,792   $7,630,858 
SCHEDULE OF CASH INCOME TAXES PAID

The cash income taxes paid information is as follows:

 

Cash Income Taxes Paid (Refunded), Net  March 31, 2026   December 31, 2025 
U.S. — Federal  $

                 -

   $          - 
U.S. — State and Local   

-

    

-

 
Republic of Korea   

-

    

-

 
Total Cash Income Taxes Paid, Net  $

-

   $

-