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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The components of income (loss) before taxes for the years ended December 31, 2023 and 2022 are as follows:
| 2023 | 2022
United States | $ | 6,949,525 |  | $ | (32,493,098) |
International | 759,984 |  | (5,531,211) |
Total | $ | 7,709,509 |  | $ | (38,024,309) |
The components of income tax expense for the years ended December 31, 2023 and 2022 are as follows:
| 2023 | 2022
Current tax expense |  |
Federal | $ | 421,237 |  | $ | — |
Foreign | — |  | — |
State | 190,250 |  | 69,447 |
Deferred tax expense |  |
Federal | — |  | — |
Foreign | — |  | — |
State | — |  | — |
Income tax expense | $ | 611,487 |  | $ | 69,447 |
Schedule of Deferred Tax Assets and Liabilities | The components of the net deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows:
| 2023 | 2022
Deferred tax assets: |  |
Net operating loss carryforwards | $ | 21,713,610 |  | $ | 25,459,247 |
Allowance for credit losses | 3,141,395 |  | 3,389,435 |
Equity based compensation | 802,100 |  | 1,322,642 |
Research and experimental expenditures | 412,699 |  | 216,391 |
Lease liability | 285,415 |  | 17,575 |
Startup costs | 8,339 |  | 9,514 |
Accruals | 922,553 |  | 458,609 |
Nondeductible interest | 5,691,795 |  | 3,816,974 |
Other | 60,819 |  | 365,743 |
Total net deferred tax assets | 33,038,725 |  | 35,056,130 |
Valuation allowance | (32,450,807) |  | (34,868,210) |
Deferred tax liabilities: |  |
Depreciation and amortization | (291,252) |  | (168,505) |
Right-of-use asset | (296,666) |  | (19,415) |
Total net deferred tax liabilities | (587,918) |  | (187,920) |
Net deferred tax asset (liability) | $ | — |  | $ | — |
Schedule of Federal Income Tax Rate | A reconciliation of our provision for income taxes at the federal statutory rate to the reported income tax provision for the years ended December 31, 2023 and 2022 are as follows:
| 2023 | 2022
Computed "expected" tax benefit | 21.0 | % | (21.0) | %
State income tax benefit, net of federal tax effect | 5.8 |  | (2.6) |
Nondeductible equity based compensation | 10.2 |  | 9.7 |
Other permanent differences | 1.7 |  | (0.5) |
Change in valuation allowance | (30.9) |  | 15.9 |
Foreign rate differentials and other | 0.1 |  | (1.3) |
Income tax expense | 7.9 | % | 0.2 | %

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 9 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-2 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 12 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-12 + Details
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