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v3.22.2.2

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Taxes |
Schedule of Deferred Tax Assets and Liabilities |
|  | 2021 |  |  | 2020 |
Deferred tax assets |  |  |  |  |  |
Net operating loss carry forward |  | $ | 4,796,000 |  |  | $ | 3,984,500 |
Mineral properties |  |  | 241,300 |  |  |  | 201,200 |
Asset retirement obligation |  |  | 4,600 |  |  |  | 8,400 |
Stock based compensation |  |  | 503,400 |  |  |  | 219,000 |
Other |  |  | 16,800 |  |  |  | 14,800 |
Total deferred tax assets |  |  | 5,562,100 |  |  |  | 4,427,900 |
Valuation allowance |  |  | (4,017,800 | ) |  |  | (3,286,100 | )
|  |  | 1,544,300 |  |  |  | 1,141,800 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Property, plant, and equipment |  |  | (1,544,300 | ) |  |  | (1,141,800 | )
Total deferred tax liabilities |  |  | (1,544,300 | ) |  |  | (1,141,800 | )
Net deferred tax assets |  | $ | - |  |  | $ | - |
Schedule of Effective Income Tax Rate Reconciliation |
|  | 2021 |  |  | 2020 |
Provision (benefit) at statutory rate for the period |  | $ | (683,600 | ) |  | $ | (155,400 | )
State taxes, net of federal taxes |  |  | (178,200 | ) |  |  | (43,300 | )
Non-taxable item-CARES Act loan forgiven |  |  | - |  |  |  | (96,200 | )
Change in rate reconciliation |  |  | 57,000 |  |  |  | - |
Adjustment of prior year tax estimates |  |  | 73,100 |  |  |  | (5,800 | )
Increase (decrease) in valuation allowance |  |  | 731,700 |  |  |  | 300,250 |
Total provision (benefit) |  | $ | - |  |  | $ | - |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
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