| Schedule of Effective Income Tax Rate Reconciliation |
Income
tax expense differed from the expected expense computed by applying the U.S. Federal income tax rate as follows:
Schedule of Effective Income Tax Rate Reconciliation
| | |
Three Months Ended June 30, 2026 | | |
Three Months Ended June 30, 2025 | | |
Six Months Ended June 30, 2026 | | |
Six Months Ended June 30, 2025 | |
| Federal income tax benefit at statutory rate | |
$ | (1,232,755 | ) | |
$ | (1,044,568 | ) | |
$ | (3,188,294 | ) | |
$ | (1,853,641 | ) |
| State income tax benefit | |
| (198,492 | ) | |
| (245,082 | ) | |
| (516,821 | ) | |
| (439,546 | ) |
| Discount on FMV of shares issued | |
| 65,943 | | |
| 39,790 | | |
| 244,869 | | |
| 50,287 | |
| Permanent differences | |
| 4,104 | | |
| 3,346 | | |
| 10,641 | | |
| 6,650 | |
| Change in valuation allowance | |
| 1,361,199 | | |
| 1,247,371 | | |
| 3,449,604 | | |
| 2,237,364 | |
| Other | |
| 1 | | |
| (857 | ) | |
| 1 | | |
| (1,114 | ) |
| Total income tax expense | |
$ | - | | |
$ | - | | |
$ | - | | |
$ | - | |
|