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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2023
Income Taxes [Abstract] |
Schedule of Federal Income Tax | The provision for Federal income tax consists of the following for the years ended December 31, 2023 and 2022:
|  | 2023 |  |  | 2022 |
Federal income tax benefit (expense) attributable to: |  |  |  |  |  |
Current operations |  | $ | 5,284,000 |  |  | $ | 2,402,000 |
State tax effect, net of federal benefit |  |  | 569,000 |  |  |  | 545,000 |
Option exercise benefits (expenses), net of Section 162M limitations |  |  | (3,100,000 | ) |  |  | (268,000 | )
Transaction costs |  |  | (360,000 | ) |  |  | — |
Other adjustments |  |  | 44,922 |  |  |  | 221,000 |
Valuation allowance |  |  | 5,160,000 |  |  |  | (2,900,000 | )
Income tax benefit |  | $ | 7,597,922 |  |  | $ | — |
|  | 2023 |  |  | 2022 |
Current tax benefit (expense) - Federal |  | $ | — |  |  | $ | — |
Current tax benefit (expense) - State |  |  | (97,452 | ) |  |  | — |
Total current (expense) |  |  | (97,452 | ) |  |  | — |
Deferred tax benefit (expense) - Federal |  |  | 6,488,661 |  |  |  | — |
Deferred tax benefit (expense) - State |  |  | 1,206,713 |  |  |  | — |
Total deferred benefit |  |  | 7,695,374 |  |  |  | — |
Total tax benefit on loss |  | $ | 7,597,922 |  |  | $ | — |
Schedule of Net Deferred Tax | The cumulative tax effect of significant items comprising our net deferred tax amount at the expected rate of 21% is as follows as of December 31, 2023 and 2022:
|  | 2023 |  |  | 2022 |
Deferred tax assets attributable to: |  |  |  |  |  |
Net operating loss carryover |  | $ | 4,864,000 |  |  | $ | 5,545,000 |
Stock compensation |  |  | 3,744,000 |  |  |  | 3,953,000 |
Operating lease liability |  |  | 115,000 |  |  |  | 63,000 |
Section 174 capitalized expenses |  |  | 2,533,000 |  |  |  | 789,000 |
Fixed assets |  |  | — |  |  |  | 126,000 |
Other |  |  | 103,000 |  |  |  | 16,000 |
Deferred tax assets |  | $ | 11,720,000 |  |  | $ | 10,492,000 |
Deferred tax liabilities attributable to: |  |  |  |  |  |  |  |
Intangibles |  | $ | (12,393,000 | ) |  | $ | (2,102,000 | )
Operating lease right-of-use assets |  |  | (110,000 | ) |  |  | (63,000 | )
Goodwill |  |  | — |  |  |  | (106,000 | )
Other |  |  | (198,424 | ) |  |  | (59,000 | )
Deferred tax liabilities |  |  | (12,701,424 | ) |  |  | (2,330,000 | )
Net deferred tax (liability) asset |  | $ | (981,424 | ) |  | $ | 8,162,000 |
Valuation allowance |  |  | (3,356,000 | ) |  |  | (8,162,000 | )
Net deferred tax liabilities |  | $ | (4,337,424 | ) |  | $ | — |

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