INCOME TAXES (Tables)
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9 Months Ended |
Sep. 30, 2026 |
| INCOME TAXES |
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| 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 | |
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| 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 | |
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| 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 | |
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