v3.26.1
INCOME TAXES (Tables)
6 Months Ended
Jun. 30, 2026
INCOME TAXES  
Schedule of reconciliation of the federal statutory corporate tax rate to the Company's effective tax rate

The Company adopted ASU 2023-09 as of January 1, 2025.  As a result, the Company enhanced its income tax disclosures, including additional disaggregation of effective tax rate reconciliation and income taxes paid.

A reconciliation of the federal statutory corporate tax rate to the Company’s effective tax rate is as follows:

Three Months Ended

Six Months Ended

  ​ ​ ​June 30, 2026

  ​ ​ ​June 30, 2026

U.S. statutory federal tax rate

$

594,848

21.00

%

$

(292,052)

21.00

%

State tax, net of federal tax

 

293

0.00

 

3,093

(0.23)

Valuation Allowance

 

(615,087)

(21.68)

 

263,596

(18.95)

Nontaxable or Nondeductible Items

21,783

0.74

29,037

(2.11)

Effective tax rate

$

1,837

0.06

%

$

3,674

(0.29)

%

Six Months Ended

  ​ ​ ​

June 30, 2025

U.S. statutory federal tax rate

 

21.0

%

State tax, net of federal tax

 

(2.1)

Change in valuation allowance

 

(21.3)

Section 162(m); Limit on Compensation

(0.2)

Return-to-provision and deferred true up

 

(0.2)

Effective tax rate

 

(2.8)

%