v3.26.3
Income Taxes (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Income Taxes [Abstract]    
Schedule of Domestic and Foreign Components of Income Before Provision for Income Taxes  

Domestic and foreign components of income before provision for income taxes for each of the years ended December 31, 2025 and 2024 and for the period from November 9, 2023 (inception) to December 31, 2023, were as follows:

 

    2025     2024     2023  
                   
Domestic   $ (12,109,139 )   $ -     $ -  
Foreign     (9,800,775 )     (11,637,637 )     (334,678 )
      (21,909,914 )     (11,637,637 )     (334,678 )
Schedule of Effective Income Tax Rate The following table reconciles the Cayman Island. Federal statutory income tax rate of 0% to the Company’s effective income tax rate for the year ended December 31, 2025 in accordance with the guidance in ASU No. 2023-09:

 

   

For the year ended

December 31, 2025

 
    Amount     Percent  
Foreign tax Effects                
UK                
Changes in valuation allowance   $ 289,401       (1.32 )%
Nontaxable or nondeductible items                
Legal Fees     260,868       (1.19 )%
Other     (550,269 )     2.51 %
                 
Ghana                
Changes in valuation allowance     2,795,504       (12.76 )%
Other     (2,795,504 )     12.76 %
Effects of Cross-border tax laws     -       - %
Changes in valuation allowances     -       - %
Nontaxable or Nondeductible items     -       - %
Changes in Unrecognized Tax Benefits     -       - %
Other Adjustments     -       - %
Effective Tax Rate   $ -       - %

 

   

For the year ended

December 31, 2024

 
    Amount     Percent  
Provision for income taxes at statutory rate   $ -       0.0 %
Miscellaneous permanent items     154,871       (1.3 )%
Transaction expenses     420,598       (3.6 )%
Change in valuation allowance     3,204,495       (27.5 )%
Foreign rate differential     (3,779,963 )     32.5 %
Income tax (expenses) benefit   $ -       0.0 %

 

   

For the period from
November 9, 2023
(inception) to

December 31, 2023

 
    Amount     Percent  
Provision for income taxes at statutory rate   $ -       0.0 %
Transaction expenses     27,718       (5.0 )%
Change in valuation allowance     81,052       (27.5 )%
Foreign rate differential     (108,770 )     32.5 %
Income tax (expenses) benefit   $ -       0.0 %
 
Schedule of Deferred Tax Assets and Liabilities  

The Tax effects of the temporary differences and carryforwards that give rise to the deferred tax assets and liabilities consist of the following components:

 

    2025     2024  
Deferred tax assets:            
Depreciation   $ 33,072     $ 14,619  
ARO Accretion     1,031,450       362,950  
Net operating losses – non-current     5,224,878       2,826,926  
Total deferred tax assets     6,289,400       3,204,495  
                 
Valuation allowance     (6,289,400 )     (3,204,495 )
Net deferred tax liabilities   $ -     $ -  
Schedule of Income Taxes Paid (Net of Refunds Received)  

Income taxes paid (net of refunds received) consisted of the following (in thousands):

 

Tax Payments (net of refunds received)   2025     2024     2023  
Federal   $  -     $  -     $  -  
Foreign     -       -       -  
State     -       -       -  
Total   $ -     $ -     $ -