v3.26.1
INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income (Loss) Before Income Taxes

The components of income (loss) before income taxes were as follows:

 

   2025   2024 
         
U.S.  $(1,251,680)  $92,159,014)
Non-U.S.  $-   $- 
Schedule of Provision for Income Taxes that Computed by Applying the U.S. Statutory Rate to Income (Loss) Before Income Taxes

The reconciliation between the actual provision for income taxes and that computed by applying the U.S. statutory rate to income (loss) before income taxes are outlined below based on the updated requirements of ASU 2023-09 for 2025.

 

   2025     
         
Current tax at U.S. statutory rate  $(222,999)   21.00%
State and local income taxes, net of federal taxes   (37,891)   3.57%
Foreign Tax Effects   -    -%
Effects of Changes in Tax Law or Rates Enacted in the Current Period   -    -%
Effect of cross-border tax law   -    -%
Tax Credits   -    -%
Changes in Valuation Allowance   176,562    16.63%
Nondeductible/nontaxable items          
Nondeductible/nontaxable items   1,642    (0.15%)
Changes in Unrecognized Tax Benefit   -    -%
Other Adjustments          
Deferred Adjustment   82,686    79%
Income tax expense  $-    -%
Schedule of Effective Income Tax Rate Reconciliation

As previously disclosed prior to the adoption of ASU 2023-09, the effective income tax rate differs from the statutory federal income tax rate as follows

 

   2024 
Tax (benefit) computed at statutory rate of 21% at December 31, 2024, respectively  $(518,740)
      
Increase (decrease) in taxes resulting from:     
Meals & Entertainment   915 
Prior-year true-up for Books   2,380,175 
Deferred State Taxes, net of federal benefit   (102,681)
Other non-deductible expenses   - 
Change in valuation allowance   (1,759,669)
Provision (benefit)  $- 
Schedule of Deferred Tax Assets and Liabilities

Significant components of our deferred assets and liabilities at December 31, 2025 and 2024, respectively, are as follows:

 

   2025   2024 
Deferred Tax Assets (Liabilities):        
Accrued Expenses  $98,999   $22,249 
Net Operating Loss   9,450,310    9,288,524 
Accretion   615,894    613,254 
Share-Based Compensation   86,510    86,510 
Charitable Contributions Carry Forward   2,796    2,743 
Other        14,266 
Allowance for Doubtful Accounts   599,207    571,022 
Interest Expense Limitations        67,221 
Oil and Gas Properties and Fixed Assets   3,292,967    3,320,659 
Investment in RMX Joint Venture   139,969    123,640 
Total deferred tax assets   14,286,652   $14,110,089 
Valuation Allowance   (14,286,652)   (14,110,089)
Net Deferred Tax Asset  $-   $- 
Schedule of Net Income Taxes Paid (Received)

Net income taxes paid (received) during the years ended December 31, 2025 and 2024, by federal and state jurisdiction (all states combined), were as follows:

 

   2025   2024 
Federal  $-   $- 
State   9,218    8,150 
Total income taxes paid, net  $11,243   $10,174