v3.26.1
INCOME TAXES
 9 Months Ended
Sep. 30, 2025
INCOME TAXES  
INCOME TAXES

NOTE 5 - INCOME TAXES

 

The reconciliation of income tax benefit at the U.S. statutory rate of 21% as of September 30, 2025, to the Company’s effective tax rate is as follows:

 

September 30, 2025

December 31, 2024

Income tax benefit at statutory rate

$(5,858)(27,615)

Change in valuation allowance

5,85827,615

Income tax expense

——

 

The tax effects of temporary differences that give rise to the Company’s net deferred tax assets as of September 30, 2025, is as follows:

 

 

 

September 30, 2025

 

 

December 31, 2024

 

Net operating loss carry forward

 

$305,839

 

 

 

285,525

 

Valuation allowance

 

 

(305,839)

 

 

(285,525)

Net deferred tax assets

 

 

—

 

 

 

—

 

 

The Company has approximately $1,456,377 of net operating losses (“NOL”) carried forward to offset taxable income, if any, in future years which expire commencing in fiscal 2042. In assessing the realization of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred tax asset relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized.