v3.26.3
INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2026
INCOME TAXES  
Schedule of provision for income taxes

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Current

 

 

 

 

 

 

 

 

 

 

 

 

Domestic-Federal

 

$(133,866)

 

$115,168

 

 

$(81,735)

 

$106,120

 

Domestic-State

 

 

(64,224)

 

 

30,208

 

 

 

(10,497)

 

 

28,491

 

Franchise taxes

 

 

(440)

 

 

8,795

 

 

 

7,390

 

 

 

19,950

 

Foreign

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

(198,531)

 

 

154,170

 

 

 

(84,842)

 

 

154,560

 

Deferred

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic-Federal

 

 

775,470

 

 

 

32,288

 

 

 

113,172

 

 

 

(85,573)

Domestic-State

 

 

240,199

 

 

 

50,099

 

 

 

26,998

 

 

 

33,034

 

Foreign

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

 

1,015,670

 

 

 

82,387

 

 

 

140,171

 

 

 

(52,539)
Total Provision/(Benefit) for Income Taxes

 

$817,139

 

 

$236,557

 

 

$55,329

 

 

$102,021

 

Schedule of effective income tax rate reconciliation

 

 

For the Three Months Ended

 

 

For the Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Domestic-Federal

 

$(529,584)

 

$181,072

 

 

$(1,866,839)

 

$30,359

 

State taxes, net of federal benefit

 

 

(151,011)

 

 

42,343

 

 

 

(515,289)

 

 

7,172

 

Non-deductible expenses

 

 

14,780

 

 

 

9,327

 

 

 

39,055

 

 

 

38,743

 

Franchise taxes

 

 

(481)

 

 

8,795

 

 

 

7,349

 

 

 

19,950

 

Prior-year income tax adjustments – current and deferred

 

 

(134,194)

 

 

6,498

 

 

 

(183,323)

 

 

7,068

 

Change in estimated future income tax rates

 

 

(10,424)

 

 

(7,178)

 

 

(97,450)

 

 

56,846

 

Change in valuation allowance

 

 

1,618,672

 

 

 

6,034

 

 

 

2,664,593

 

 

 

(47,781)
Other

 

 

9,380

 

 

 

(10,335)

 

 

7,232

 

 

 

(10,336)
Total Provision/(Benefit) for Income Taxes

 

$817,139

 

 

$236,557

 

 

$55,329

 

 

$102,021

 

Schedule of deferred tax assets and liabilities

 

 

September 30,

 

 

December 31,

 

 

 

2026

 

 

2025

 

Deferred Tax Assets:

 

 

 

 

 

 

Operating Loss Carry forwards

 

$674,666

 

 

$8,169

 

Stock-Based Compensation

 

 

2,818,041

 

 

 

2,742,007

 

Sales Allowances

 

 

187,576

 

 

 

91,257

 

Provision for Credit Losses – Extrax NM Loans

 

 

113,037

 

 

 

109,987

 

Provision for Credit Losses – Settlement Receivables

 

 

6,699

 

 

 

-

 

Inventory Allowance

 

 

1,356,601

 

 

 

-

 

Prepaid Inventory Allowance

 

 

67,952

 

 

 

-

 

Accrued Related Party Expenses

 

 

136

 

 

 

1,383

 

Interest Carryforward

 

 

10,992

 

 

 

65,675

 

Allowance for Doubtful Accounts

 

 

552,672

 

 

 

331,026

 

Lease Liabilities

 

 

16,511

 

 

 

16,205

 

Charitable Contribution Carryforward

 

 

-

 

 

 

-

 

Investment Impairments

 

 

508,115

 

 

 

468,384

 

Fixed Asset Impairments

 

 

55,750

 

 

 

-

 

Less: Valuation allowance

 

 

(5,984,971)

 

 

(3,320,378)

Total Deferred Tax Assets

 

 

383,777

 

 

 

513,715

 

 

 

 

 

 

 

 

 

 

Deferred Tax Liabilities:

 

 

 

 

 

 

 

 

Depreciation & Amortization

 

 

(217,344)

 

 

(243,913)

Federal tax effect of state NOL carryforwards

 

 

(36,843)

 

 

-

 

Total Deferred Tax Liabilities

 

 

(254,187)

 

 

(243,913)

 

 

 

 

 

 

 

 

 

Net Deferred Tax Assets/(Liabilities)

 

$129,591

 

 

$269,802