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Income Taxes
 6 Months Ended
Jun. 30, 2024
Income Tax Disclosure [Abstract]  
Income Taxes

NOTE 7 - INCOME TAXES

 

During the six months ended June 30, 2024, we generated a federal taxable income of $2.4 million and generated $4.9 million of foreign net operating loss (“NOL”) carryforwards. As of June 30, 2024, we had consolidated income tax NOL carryforwards for federal tax purposes of approximately $210.0 million and net operating loss carryforwards for foreign income tax purposes of approximately $51.0 million. From 2025 through 2027, approximately $29.0 million of the NOL will expire, and from 2028 through 2037, approximately $128.0 million of the NOL will expire. The NOL generated in 2018 through 2023 of approximately $53.0 million will be carried forward indefinitely.