Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Income Taxes [Abstract] |
|
| Schedule of (Loss) Income Before Income Tax Expense (benefit) |
(Loss) income before income tax expense (benefit) for the years ended December 31, 2025 and 2024 is as follows | | | 2025 | | | 2024 | | | U.S. Income (Loss) before Tax | | $ | (11,997,676 | ) | | $ | (4,635,408 | ) | | Foreign Income (Loss) before Tax | | | (7,048,667 | ) | | | (20,826,690 | ) | | Total Income (Loss) Before Taxes | | $ | (19,046,343 | ) | | $ | (25,462,098 | ) |
|
| Schedule of Income (Loss) from Continuing Operations Before Income Taxes |
Our income (loss) from continuing operations before income taxes is as follows | | | 2025 | | | 2024 | | | Continuing Operations pre-tax book income | | $ | (19,046,343 | ) | | $ | (25,462,098 | ) | | Discontinued Operations pre-tax book income | | $ | - | | | $ | - | |
|
| Schedule of Federal Statutory Income Tax Rate to the Actual Global Effective Income Tax Rate |
The components of income tax provision (benefit) for the years ended December 31, 2025 and 2024 were as follows: | | | For the Years Ended December 31, | | | | | 2025 | | | 2024 | | | Current provision | | | | | | | | Federal | | $ | - | | | $ | (832 | ) | | State | | | (13,987 | ) | | | (14,116 | ) | | Foreign | | | - | | | | 43,540 | | | Current benefit (provision) for income taxes | | $ | (13,987 | ) | | $ | 28,592 | | | | | | | | | | | | | Deferred provision | | | | | | | | | | Federal | | $ | (2,021,580 | ) | | $ | (4,628,566 | ) | | State | | | (379,524 | ) | | | (903,382 | ) | | Foreign | | | (1,750,184 | ) | | | (891,677 | ) | | Valuation allowance for unrealizable net deferred tax assets | | | 4,231,985 | | | | 6,529,934 | | | Deferred benefit/(provision) for income taxes | | $ | 80,697 | | | $ | 106,309 | | | | | | | | | | | | | Total benefit/(provision) for income taxes | | $ | 66,710 | | | $ | 134,901 | |
|
| Schedule of Federal Statutory Income Tax Rate to the Actual Global Effective Income Tax Rate |
The following table presents required disclosure pursuant to ASU 2023-09 and reconciles the U.S. federal statutory tax amount and rate to our actual global effective amount and rate for the year ended December 31, 2025: | | | For the Year Ended December 31, 2025 | | | | | Amount | | | Percent | | | U.S. federal statutory tax rate | | $ | (3,999,732 | ) | | | 21.00 | % | | State income taxes, net of federal income tax effect | | $ | (391,090 | ) | | | 2.05 | % | | Foreign tax effects | | $ | - | | | | 0.00 | % | | Canada | | $ | - | | | | 0.00 | % | | Statutory tax rate difference between Canada and United States | | $ | (363,246 | ) | | | 1.91 | % | | Stock Options | | $ | 93,223 | | | | (0.49) | % | | Other Adjustments | | $ | 59 | | | | 0.00 | % | | Changes in valuation allowance | | $ | 1,750,184 | | | | (9.19) | % | | Changes in valuation allowance | | $ | 2,481,801 | | | | (13.03) | % | | Nontaxable or nondeductible items | | $ | - | | | | 0.00 | % | | Impairment Loss | | $ | 402,645 | | | | (2.11) | % | | Other Adjustments | | $ | 3,494 | | | | (0.02) | % | | Deferred tax true-ups | | $ | (44,048 | ) | | | 0.23 | % | | Other adjustments | | $ | - | | | | 0.00 | % | | Other Effective tax rate - (Benefit)/provision | | $ | - | | | | 0.00 | % | | | | $ | (66,710 | ) | | | 0.35 | % |
|
| Schedule of Federal Statutory Income Tax Rate to the Actual Global Effective Income Tax Rate |
The following table presents the required disclosures prior to the adoption of ASU 2023-09 and reconciles the U.S. federal statutory income tax rate to the actual global effective income tax rate for the year ended December 31, 2024: | | | 2024 | | | | | Amount | | | Federal tax expense | | | 21.00 | % | | State tax expense | | | 3.23 | % | | Statutory tax rate difference between Puerto Rico and United States | | | (27.81 | )% | | Changes in valuation allowance | | | 1.39 | % | | Other | | | 1.77 | % | | Provision for income taxes | | | (0.42 | )% |
|
| Schedule of Deferred Income Tax Assets and Liabilities |
Significant components of the Company’s deferred tax assets are as follows: | | | As of December 31, | | | Deferred tax assets: | | 2025 | | | 2024 | | | Net operating losses carried forward | | $ | 31,762,682 | | | $ | 26,153,662 | | | Other deferred tax assets | | | 164,721 | | | | 294,263 | | | Total deferred tax assets | | $ | 31,927,403 | | | $ | 26,447,925 | | | Deferred tax (liabilities): | | | | | | | | | | Property, plant and equipment | | $ | (6,832,156 | ) | | $ | (5,663,837 | ) | | Total deferred tax (liabilities) | | | (6,832,156 | ) | | | (5,663,837 | ) | | | | | | | | | | | | Valuation allowance | | | (26,474,473 | ) | | | (22,244,011 | ) | | Net deferred tax assets/(liabilities) | | $ | (1,379,226 | ) | | $ | (1,459,923 | ) |
|