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INCOME TAXES (Tables) | 12 Months Ended
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Dec. 31, 2024
INCOME TAXES |
Schedule of income tax before income tax domestic and foreign |
|  | December 31, 2024 |  |  | December 31, 2023 |
Domestic |  | $ | (6,700,828 | ) |  | $ | (2,832,980 | )
Foreign |  |  | (9,482,180 | ) |  |  | (15,709,674 | )
|  | $ | (16,183,018 | ) |  | $ | (18,542,654 | )
Schedule of provision for income tax |
|  | December 31, 2024 |  |  | December 31, 2023 |
Current tax provision |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
Total current tax provision |  | $ | - |  |  | $ | - |
Deferred tax provision |  |  |  |  |  |  |  |
Domestic |  | $ | - |  |  | $ | - |
State |  |  | - |  |  |  | - |
Foreign |  |  | - |  |  |  | - |
Total deferred tax provision |  | $ | - |  |  | $ | - |
Total current provision |  | $ | - |  |  | $ | - |
Schedule of reconciliation of income tax |
|  | December 31, 2024 |  |  | December 31, 2023 |
US |  |  |  |  |  |
Loss before income taxes |  | $ | (16,183,018 | ) |  | $ | (18,542,654 | )
Taxes under statutory US tax rates |  | $ | (3,398,434 | ) |  | $ | (3,893,957 | )
Increase (decrease) in taxes resulting from: |  |  |  |  |  |  |  |
Increase in valuation allowance |  | $ | 3,904,140 |  |  | $ | 4,339,572 |
Foreign tax rate differential |  | $ | 111,774 |  |  | $ | 245,518 |
Permanent differences |  | $ | (99,080 | ) |  | $ | (448,032 | )
Prior period adjustments |  | $ | 4,020 |  |  | $ | (151,879 | )
State taxes |  | $ | (522,420 | ) |  | $ | (91,222 | )
Income tax expense |  | $ | - |  |  | $ | - |
Schedule of significant components of deferred tax assets and liabilities |
|  | December 31, 2024 |  |  | December 31, 2023 |
Net operating loss carryforward |  | $ | 10,977,546 |  |  | $ | 7,621,277 |
Capital loss carryforward |  |  | 801,744 |  |  |  | 801,744 |
Section 163(j) carryforward |  |  | 469,387 |  |  |  | 563,138 |
Foreign exchange |  |  | 129,916 |  |  |  | 129,916 |
Allowance for doubtful accounts |  |  | 4,991,818 |  |  |  | 4,404,277 |
Accrued expenses |  |  | 333,260 |  |  |  | 261,466 |
Mark to market adjustment in securities |  |  | 358,761 |  |  |  | 358,761 |
Lease liability |  |  | 258,682 |  |  |  | 261,377 |
Capitalized research & development costs |  |  | (8,208 | ) |  |  | 52,261 |
Depreciation |  |  | (35,734 | ) |  |  | (35,734 | )
Total deferred tax assets |  |  | 18,277,172 |  |  |  | 14,418,483 |
Intangibles |  |  | 31,932 |  |  |  | (15,845 | )
Inventory |  |  | (170 | ) |  |  | 4,853 |
Right of use asset |  |  | (256,075 | ) |  |  | (258,770 | )
Goodwill |  |  | (10,980 | ) |  |  | (10,980 | )
Total deferred tax liabilities |  |  | (235,293 | ) |  |  | (280,742 | )
Valuation allowance |  |  | (18,041,879 | ) |  |  | (14,137,741 | )
Net deferred tax assets |  | $ | - |  |  | $ | - |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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