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INCOME AND OTHER TAXES (Tables) | 12 Months Ended
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Dec. 31, 2022
INCOME AND OTHER TAXES |
Schedule of Income before Income Tax, Domestic and Foreign |
|  | 2022 |  |  | 2021 |
Domestic |  | $ | 2,729,793 |  |  | $ | 1,853,423 |
Foreign |  |  | (2,285,059 | ) |  |  | (1,913,892 | )
Total |  | $ | 444,734 |  |  | $ | (60,469 | )
Schedule of Effective Income Tax Rate Reconciliation |
|  | 2022 |  |  | 2021 |
Tax liability (benefit) at federal statutory rate |  | $ | 93,000 |  |  | $ | (13,000 | )
State income tax effect |  |  | 67,000 |  |  |  | (2,000 | )
Foreign income tax effect |  |  | (136,000 | ) |  |  | (127,000 | )
Non-deductible items |  |  | 4,000 |  |  |  | - |
Non-taxable item - gain on CARES Act loan |  |  | - |  |  |  | (93,000 | )
Percentage depletion |  |  | - |  |  |  | (20,000 | )
Adj for prior year tax estimate to actual-domestic |  |  | 69,000 |  |  |  | 44,000 |
Adj for prior year tax estimate to actual-foreign |  |  | (32,000 | ) |  |  | 1,431,000 |
Impact on change in state tax rate |  |  | 7,000 |  |  |  | - |
Impact on change in foreign exchange rate |  |  | (83,000 | ) |  |  | 35,000 |
Change in valuation allowance - Domestic |  |  | (358,000 | ) |  |  | (212,000 | )
Change in valuation allowance - Foreign |  |  | 385,000 |  |  |  | (1,043,000 | )
Total |  | $ | 16,000 |  |  | $ | - |
Schedule of Deferred Tax Assets and Liabilities |
|  | 2022 |  |  | 2021 |
Deferred tax asset: |  |  |  |  |  |
Domestic net operating loss carry forward |  | $ | 307,000 |  |  | $ | 485,000 |
Foreign net operating loss carry forward |  |  | 1,958,000 |  |  |  | 1,573,000 |
Deferred tax asset |  |  | 2,265,000 |  |  |  | 2,058,000 |
Valuation allowance (domestic) |  |  | (58,000 | ) |  |  | (416,000 | )
Valuation allowance (foreign) |  |  | (1,958,000 | ) |  |  | (1,573,000 | )
Total deferred tax asset |  |  | 249,000 |  |  |  | 69,000 |
Deferred tax liability: |  |  |  |  |  |  |  |
Property, plant, and equipment |  |  | (245,000 | ) |  |  | (68,000 | )
Other |  |  | (4,000 | ) |  |  | (1,000 | )
Total deferred tax liability |  |  | (249,000 | ) |  |  | (69,000 | )
Net deferred tax asset |  | $ | - |  |  | $ | - |

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