INCOME TAXES (Tables)
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6 Months Ended |
Jun. 30, 2026 |
| INCOME TAXES |
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| Schedule of provision for income taxes |
| | For the Three Months Ended | | | For the Six Months Ended | | | | June 30, | | | June 30, | | | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | Current | | | | | | | | | | | | | Domestic-Federal | | $ | (124,650 | ) | | $ | (4,710 | ) | | $ | 52,131 | | | $ | (9,048 | ) | Domestic-State | | | 119 | | | | 25 | | | | 53,727 | | | | (1,717 | ) | Franchise taxes | | | 2,176 | | | | 7,240 | | | | 7,831 | | | | 11,155 | | Foreign | | | - | | | | - | | | | - | | | | - | | | | | (122,354 | ) | | | 2,555 | | | | 113,689 | | | | 390 | | | Deferred | | | | | | | | | | | | | | | | | Domestic-Federal | | | (39,593 | ) | | | (51,493 | ) | | | (662,298 | ) | | | (117,861 | ) | Domestic-State | | | (44,715 | ) | | | (5,890 | ) | | | (213,201 | ) | | | (17,065 | ) | Foreign | | | - | | | | - | | | | - | | | | - | | | | | (84,308 | ) | | | (57,383 | ) | | | (875,499 | ) | | | (134,926 | ) | | Total Provision/(Benefit) for Income Taxes | | $ | (206,662 | ) | | $ | (54,828 | ) | | $ | (761,810 | ) | | $ | (134,536 | ) |
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| Schedule of effective income tax rate reconciliation |
| | For the Three Months Ended | | | For the Six Months Ended | | | | June 30, | | | June 30, | | | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | | | | | | | | | | | | | | Domestic-Federal | | $ | (345,897 | ) | | $ | (69,514 | ) | | $ | (1,337,255 | ) | | $ | (150,713 | ) | | State taxes, net of federal benefit | | | (95,691 | ) | | | (15,176 | ) | | | (364,278 | ) | | | (35,171 | ) | | Non-deductible expenses | | | 11,366 | | | | 10,931 | | | | 24,275 | | | | 29,416 | | | Franchise taxes | | | 2,176 | | | | 7,240 | | | | 7,831 | | | | 11,155 | | | Revision of prior years' deferred taxes | | | (49,129 | ) | | | 6,649 | | | | (49,129 | ) | | | 570 | | | Change in estimated future income tax rates | | | 32,398 | | | | 32,224 | | | | (87,026 | ) | | | 64,024 | | | Change in valuation allowance | | | 272,864 | | | | (27,182 | ) | | | 1,045,921 | | | | (53,815 | ) | | Other | | | (34,749 | ) | | | (1 | ) | | | (2,148 | ) | | | (1 | ) | | Total Provision/(Benefit) for Income Taxes | | $ | (206,662 | ) | | $ | (54,828 | ) | | $ | (761,810 | ) | | $ | (134,536 | ) |
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| Schedule of deferred tax assets and liabilities |
| | June 30, | | | December 31, | | | | 2026 | | | 2025 | | Deferred Tax Assets: | | | | | | | Operating Loss Carry forwards | | $ | 1,560 | | | $ | 8,169 | | Stock-Based Compensation | | | 2,810,058 | | | | 2,742,007 | | Sales Allowances | | | 93,522 | | | | 91,257 | | Provision for Credit Losses Extrax NM Loans | | | 112,717 | | | | 109,987 | | Inventory Reserve (Allowance) | | | 1,762,513 | | | | - | | Accrued Related Party Expenses | | | 2,651 | | | | 1,383 | | Interest Carryforward | | | - | | | | 65,675 | | Allowance for Doubtful Accounts | | | 322,616 | | | | 331,026 | | Lease Liabilities | | | 16,898 | | | | 16,205 | | Investment Impairments | | | 506,675 | | | | 468,384 | | Fixed Asset Impairments | | | 55,592 | | | | - | | Less: Valuation allowance | | | (4,366,299 | ) | | | (3,320,378 | ) | Total Deferred Tax Assets | | | 1,318,504 | | | | 513,715 | | | | | | | | | | | Deferred Tax Liabilities: | | | | | | | | | Depreciation & Amortization | | | (173,202 | ) | | | (243,913 | ) | Total Deferred Tax Liabilities | | | (173,202 | ) | | | (243,913 | ) | | | | | | | | | | Net Deferred Tax Assets/(Liabilities) | | $ | 1,145,302 | | | $ | 269,802 | |
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