XML 46 R27.htm IDEA: XBRL DOCUMENT
v3.25.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Taxes [Abstract] |
Schedule of Components of Loss Before Income Tax Benefit | The components of loss before income tax benefit are presented as follows:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Domestic Operations |  | $ | (3,756,366 | ) |  | $ | (2,126,041 | )
Foreign Operations |  |  | (649,898 | ) |  |  | (588,914 | )
Loss from continuing operations before income tax benefit |  | $ | (4,406,264 | ) |  | $ | (2,714,955 | )
Schedule of Benefit for Income Taxes | The Company’s benefit for income taxes is comprised of the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State and local |  |  | 11,888 |  |  |  | (1,116 | )
Foreign |  |  | 35,520 |  |  |  | 76,031 |
Total Current |  |  | 47,408 |  |  |  | 74,915 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State and local |  |  | - |  |  |  | - |
Foreign |  |  | (184,997 | ) |  |  | (102,862 | )
Change in Valuation Allowance |  |  | - |  |  |  | - |
Total Deferred |  |  | (184,997 | ) |  |  | (102,862 | )
Total Benefit |  | $ | (137,589 | ) |  | $ | (27,947 | )
Schedule of Effective Tax Rate Differences from the U.S. Federal Statutory Income Tax Rate | The Company’s effective tax rate differs from the U.S. federal statutory income tax rate of 21% for 2024 and 2023 as follows:
|  | 2024 |  |  | 2023 |
Income tax benefit at federal statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
Permanent Differences |  |  | - | % |  |  | - | %
Transaction Costs |  |  | (8.2 | )% |  |  | - | %
State and local taxes |  |  | 1.1 | % |  |  | - | %
Valuation allowance |  |  | (7.5 | )% |  |  | (17.2 | )%
Deferred tax adjustment |  |  | - | % |  |  | (0.8 | )%
Share based compensation |  |  | (3.6 | )% |  |  | (2.6 | )%
Foreign Income Tax Rate Differential |  |  | 0.3 | % |  |  | 0.4 | %
Other |  |  | - | % |  |  | 0.2 | %
Effective tax rate |  |  | 3.1 | % |  |  | 1.0 | %
Schedule of Components of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows and relate to continuing operations:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Deferred Tax Assets: |  |  |  |  |  |
U.S. federal and state net operating losses |  | $ | 2,578,441 |  |  | $ | 2,939,449 |
Foreign net operating losses |  |  | - |  |  |  | - |
Share-based compensation |  |  | 342,510 |  |  |  | 480,773 |
Amortization of intangible assets |  |  | 290,536 |  |  |  | 429,651 |
Rent |  |  | 16,981 |  |  |  | 17,291 |
Capitalized IRC §174 costs |  |  | 2,638,434 |  |  |  | 1,972,960 |
Tax credits |  |  | 62,969 |  |  |  | 62,969 |
Other |  |  | 662,165 |  |  |  | 285,245 |
Subtotal |  |  | 6,592,036 |  |  |  | 6,188,338 |
Less Valuation Allowance: |  |  | (6,568,063 | ) |  |  | (6,099,163 | )
Total Deferred Tax Assets |  |  | 23,973 |  |  |  | 89,175 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Amortization of intangible assets |  |  | (430,455 | ) |  |  | (615,452 | )
Property and equipment |  |  | (12,384 | ) |  |  | (12,850 | )
Other |  |  | (10,179 | ) |  |  | (74,914 | )
Total Deferred Tax Liabilities |  |  | (453,018 | ) |  |  | (703,216 | )
Net Deferred Tax Liability |  | $ | (429,045 | ) |  | $ | (614,041 | )

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration