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Summary of Significant Accounting Policies
6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies
Note D - Summary of Significant Accounting Policies
 
Cash and Cash Equivalents
 
The Company considers all cash on hand and in banks, certificates of deposit and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents.
 
Income Taxes
 
The Company files income tax returns in the United States of America and various states, as appropriate and applicable. The Company is no longer subject to U.S. federal, state and local, as applicable, income tax examinations by regulatory taxing authorities for any period prior to January 1, 2019. The Company uses the asset and liability method of accounting for income taxes. At June 30, 2026 and December 31, 2025, the deferred tax asset and deferred tax liability accounts, as recorded when material to the financial statements, are entirely the result of temporary differences. Temporary differences generally represent differences in the recognition of assets and liabilities for tax and financial reporting purposes, primarily accrued interest.
 
Recognition of potential liabilities are required as a result of management’s acceptance of potentially uncertain positions for income tax treatment on a “more-likely-than-not” probability of an assessment upon examination by a respective taxing authority. The Company has no liability for uncertain tax positions.
 
Earnings Per Share
 
Basic earnings per share is computed by dividing the net income available to common stockholders by the weighted-average number of common shares outstanding during the respective period presented in our accompanying financial statements.
 
Fully diluted earnings per share is computed similar to basic income per share except that the denominator is increased to include the number of common stock equivalents (primarily outstanding options and warrants).
 
Common stock equivalents represent the dilutive effect of the assumed exercise of the outstanding stock options and warrants, using the treasury stock method, at either the beginning of the respective period presented or the date of issuance, whichever is later, and only if the common stock equivalents are considered dilutive based upon the Company’s net income position at the calculation date.
 
For the three ended June 30, 2026 and 2025 respectively, the Company did not have any outstanding items which could be deemed to be dilutive.
 
New and Pending Accounting Pronouncements
 
The Company is of the opinion that any and all pending accounting pronouncements, either in the adoption phase or not yet required to be adopted, will not have a significant impact on the Company's financial position or results of operations.