v3.26.1
Income taxes (Tables)
6 Months Ended
Jun. 30, 2026
Income taxes  
Schedule of income tax rate reconciliation

 

 

Three and Six months ended

 

 

 

June 30,

2026

 

 

June 30,

2025

 

U.S. statutory federal income tax rate

 

 

21%

 

 

21%

State income taxes, net of federal income tax

 

 

5%

 

 

5%

Change in valuation allowance

 

 

(26 )%

 

 

(26 )%

Effective income tax rate

 

 

 

 

 

 

Schedule of deferred income tax asset

 

 

Three months ended

 

 

 

June 30,

2026

 

 

June 30,

2025

 

 

 

 

 

 

 

 

Tax credit (expense) at statutory rate (26%)

 

$3,581

 

 

$13,693

 

Increase in valuation allowance

 

 

(3,581 )

 

 

(13,693 )

Net deferred income tax asset

 

$

 

 

$

 

 

 

Six months ended

 

 

 

June 30,

2026

 

 

June 30,

2025

 

 

 

 

 

 

 

 

Tax credit (expense) at statutory rate (26%)

 

$31,684

 

 

$55,063

 

Increase in valuation allowance

 

 

(31,684 )

 

 

(55,063 )

Net deferred income tax asset

 

$

 

 

$

 

Schedule of deferred tax assets and liabilities

 

 

June 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

 

 

 

 

 

 

 

Net operating loss carry-forward

 

$697,449

 

 

$665,764

 

Valuation allowance

 

 

(697,449 )

 

 

(665,764 )

Net deferred tax asset (liability)

 

$

 

 

$