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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income Taxes

Schedule of Deferred Tax Assets and Liabilities

		December 31,
		2022				2021
Deferred tax assets:
Goodwill		$	168,897			$	208,742
Capitalized start-up costs			65,305				83,710
Other intangibles			8,068				10,339
Other accruals			17,425				1,875
Stock compensation			80,374				17,423
Net operating loss			1,009,495				381,112
Contribution carryforward			346				—
Unrealized gain/loss			(10,499	)			—
Unearned revenue			5,763				—
Research and development costs			353,746				—
Deferred tax assets			1,698,920				703,211
Less valuation allowance			(1,665,938	)			(703,083	)
Net deferred tax assets after valuation allowance		$	32,982			$	128

		December 31,
		2022				2021
Deferred tax liabilities:
Depreciation		$	(32,982	)		$	(128	)
Deferred tax liabilities			(32,982	)			(128	)
Net deferred tax asset (liability)		$	—			$	—

Schedule of Effective Income Tax Rate Reconciliation

		December 31,
		2022				2021
Rate Reconciliation
Federal income tax at statutory rate			21.00	%			21.00	%
Change in state tax			0.02	%			0	%
Change in valuation allowance			-20.59	%			-22.16	%
Permanent differences			-1.80	%			-12.26	%
State taxes			2.05	%			1.98	%
Other			-0.68	%			11.44	%

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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

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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

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