Income Taxes (Tables)
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12 Months Ended |
Dec. 31, 2025 |
| Income Taxes [Abstract] |
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| Schedule of Provision (Benefit) at Stator Rates for Income Taxes |
The Company’s provision (benefit) at statutory rates for income taxes consists of the following for the year ended December 31, 2025 and 2024: | | | 2025 | | | 2024 | | | Deferred: | | | | | | | | Federal | | $ | (3,144,400 | ) | | $ | (4,070,218 | ) | | State and local | | | (583,960 | ) | | | (852,357 | ) | | Total deferred | | | (3,728,361 | ) | | | (4,922,575 | ) | | Total provision (benefit) for income taxes | | | (3,728,361 | ) | | | (4,922,575 | ) | | Less: valuation allowance | | | 3,728,361 | | | | 4,922,575 | | | Income tax provision | | $ | - | | | $ | - | |
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| Schedule of Effective Rate for Income from Operations Before Income Taxes |
A reconciliation of the federal statutory rate to 0.0% for the year ended December 31, 2025 and 2024 to the effective rate for income from operations before income taxes is as follows: | | | 2025 | | | 2024 | | | | | | | | | | | | | | | | | Benefit for income taxes at federal statutory rate | | $ | (3,952,240 | ) | | | (21.0) | % | | $ | (4,129,516 | ) | | | (21.0 | )% | | State and local income taxes, net of federal benefit | | | (733,987 | ) | | | (3.9) | | | | (766,910 | ) | | | (3.9 | ) | | | | | | | | | | | | | | | | | | | | Other book tax differences | | | (199,555 | ) | | | (1.0) | | | | - | | | | - | | | | | | | | | | | | | | | | | | | | | Nondeductible loss on stock-settled debt extinguishment | | | 1,157,422 | | | | 6.1 | | | | - | | | | | | | | | | | | | | | | | | | | | | | | | Change in valuation allowance | | | 3,728,360 | | | | 19.8 | | | | 4,896,426 | | | | 24.9 | | | Effective income tax rate | | | - | | | | 0.0 | % | | | - | | | | 0.0 | % |
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| Schedule of Recognized as Deferred Tax Assets (Liabilities) |
The tax effects of these temporary differences along with the net operating losses, net of an allowance for credits, have been recognized as deferred tax assets (liabilities) at December 31, 2025 and 2024 as follows: | | | 2025 | | | 2024 | | | Net operating loss carryforward | | $ | 20,186,649 | | | $ | 15,183,149 | | | Bad debt reserve | | | 67,948 | | | | 34,338 | | | Employee stock compensation | | | 2,955,830 | | | | 2,847,598 | | | Intangible assets | | | 536,745 | | | | 544,555 | | | Depreciation | | | (211,359 | ) | | | (121,403 | ) | | Accrued expenses | | | 232,866 | | | | 207,966 | | | Change in fair value of investments | | | (289,475 | ) | | | 1,558,777 | | | Full-cost ceiling write-down — oil & gas | | | 518,571 | | | | - | | | Charity | | | 194 | | | | 194 | | | Net deferred tax asset | | | 23,997,969 | | | | 20,255,174 | | | Valuation allowance | | | (23,997,969 | ) | | | (20,255,174 | ) | | Net deferred tax asset | | $ | - | | | $ | - | |
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| Schedule of Domestic Federal and State and Local Jurisdictions |
In accordance with ASU 2023-09, the following table presents income taxes paid (net of refunds) for the years ended December 31, 2025 and 2024, disaggregated between domestic federal and state and local jurisdictions. No individual state jurisdiction exceeded 5% of the total income taxes paid in either period. | | | | 2025 | | | | 2024 | | | U.S. federal | | $ | - | | | $ | - | | | U.S. state and local | | | - | | | | - | | | Foreign | | | - | | | | - | | | Total income taxes paid, net of refunds | | $ | - | | | $ | - | |
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