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Income Taxes
 3 Months Ended
Mar. 31, 2024
Income Taxes  
Income Taxes

Note 8 – Income Taxes

 

We have no current income tax expense and incur only the minimum state taxes which are included in operating expenses. We have deferred tax assets of $42,167,778. We believe it is more likely than not that essentially none of our deferred tax assets will be realized, and we have recorded a valuation allowance of $41,000,516 for the deferred tax assets that may not be realized as of March 31, 2024 and December 31, 2023. We also have deferred tax liabilities totaling $1,256,500 as of March 31, 2024, related to intangible assets acquired in March 2012 and February 2017. These balances are presented as a net deferred tax liability of $89,238 composed of indefinite lived intangible assets.