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

Income (loss) before income taxes consists of the following:

 

   2025   2024 
   For the Years Ended 
   December 31, 
   2025   2024 
United States  $(5,560,443)  $865,102
Foreign  (34,470,812)  (4,756,192)
Income (loss) before income taxes  $(40,031,255)  $(3,891,090)
Schedule of Provision (Benefit) for Income Taxes

The Company is subject to income taxes in U.S. federal, state, and foreign jurisdictions. The provision (benefit) for income taxes in the accompanying consolidated financial statements is comprised of the following:

 

   2025   2024 
   For the Years Ended 
   December 31, 
   2025   2024 
Current taxes:          
Federal  $-   $- 
State   -    40,714 
Foreign   -   99,299 
Total current taxes   -   140,013 
           
Deferred taxes:          
Federal   -    - 
State   -    - 
Foreign   (216,234)   (107,105)
Total deferred taxes   (216,234)   (107,105)
Income tax expense (benefit)  $(216,234)  $32,908 
Schedule of Effective Income Tax Rate

A reconciliation of the U.S. federal statutory income tax rate of 21% to the Company’s effective income tax rate, post the adoption of ASU 2023-09, is as follows:

 

   2025   2024 
   For the Years Ended 
   2025   2024 
Income tax expense (benefit) using U.S. federal statutory rate   21.0%   21.0%
State income taxes, net of federal benefit   0.1%   5.0%
Foreign tax effects          
Australia          
Statutory tax rate difference   3.6%   1.0%
Fair value loss on convertible notes   -16.2%   0.0%
Change in valuation allowance   -9.2%   0.0%
Capital loss carryforwards   3.7%   0.0%
Other   -0.4%   0.0%
Nontaxable or nondeductible items   -0.6%   0.0%
Changes in valuation allowance   -1.5%   -19.0%
Permanent Difference   0.0%   -3.0%
Research and development tax incentive   0.0%   -5.0%
Other   0.0%   0.0%
Income tax expense (benefit) and effective tax rate   0.5%   0.0%
Schedule of Deferred Tax Assets and Liabilities

 

   December 31,   December 31, 
   2025   2024 
Net operating loss carryforward  $4,337,890   $303,257 
Unrealized Gain (Loss)   -    293,707 
Capitalized transaction costs   1,829,760    77,225 
Accrued expenses   36,117    78,878 
Stock based compensation   378,290    65,208 
Lease liabilities   1,247,725    - 
Total deferred tax assets   7,829,782    818,275 
Less valuation allowance   (5,283,165)   (733,310)
Net deferred tax asset   2,546,617    84,965 
           
Intangibles   -    (412,500)
Right-of -use asset   (1,785,219)   - 
Other deferred tax liabilities   (761,398)   - 
Total deferred tax liabilities   (2,546,617)   (412,500)
           
Net deferred tax liability  $-   $(327,535)