v3.26.1
Income Taxes (Tables)
6 Months Ended
Jun. 30, 2026
Income Taxes  
Schedule of income tax provision

 

 

For the six months ended June 30,

 

 

 

2026

 

 

2025

 

Deferred income tax expense

 

$-

 

 

$38,360

 

Current income tax expense

 

 

-

 

 

 

-

 

Total

 

$-

 

 

$38,360

 

Schedule of deferred tax assets (liabilities)

 

 

As of June 30, 2026

 

 

As of December 31, 2025

 

Net operating loss carryforwards

 

$2,179,855

 

 

$1,768,511

 

Change in fair value of crypto assets

 

 

1,592

 

 

 

328,686

 

Change in fair value of convertible debt

 

 

14,157

 

 

 

169,618

 

Impairment loss on intangible assets

 

 

306,748

 

 

 

306,748

 

Other expense temporary difference

 

 

2,813

 

 

 

2,813

 

Total deferred tax assets

 

 

2,505,165

 

 

 

2,576,376

 

Deferred tax liability- Depreciation

 

 

(2,263 )

 

 

(2,263 )

Allowance

 

 

(2,502,902 )

 

 

(2,574,113 )

Net deferred tax liability

 

$-

 

 

$-

 

Schedule of federal statutory rate

 

 

June 30, 2026

 

 

June 30, 2025

 

Federal statutory rate

 

 

21.0%

 

 

21.0%

Deferred tax adjustment related to convertible debt convesion

 

 

(5.3)%

 

 

 

 

Deferred tax adjustment related to Crypto asset exchange

 

 

(15.5)%

 

 

 

 

Nondeductible expense

 

 

(0.4)%

 

 

-

 

Valuation allowance

 

 

(0.1)%

 

 

(21.9 )

 

 

 

 

 

 

 

 

 

Effective income tax rate

 

 

0.0%

 

 

0.9%