XML 142 R37.htm IDEA: XBRL DOCUMENT
v3.25.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
SCHEDULE OF INCOME LOSS BEFORE PROVISION FOR INCOME TAX | Income/(loss) before provision for income taxes consisted of the following: SCHEDULE OF INCOME LOSS BEFORE PROVISION FOR INCOME TAX
|  | Year ended December 31, 2024 |  |  | Period from March 16, 2023 (inception) through December 31, 2023 |
United States |  | $ | (23,753,863 | ) |  | $ | (3,793,585 | )
SCHEDULE OF FEDERAL AND STATE INCOME TAX PROVISION (BENEFIT) | The federal and state income tax provision (benefit) is summarized as follows: SCHEDULE OF FEDERAL AND STATE INCOME TAX PROVISION (BENEFIT)
|  | Year ended December 31, 2024 |  |  | Period from March 16, 2023 (inception) through December 31, 2023 |
Current |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State* |  |  | - |  |  |  | - |
Other |  |  | - |  |  |  | - |
Total current tax expense |  |  | - |  |  |  | - |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | - |  |  |  | - |
State |  |  | - |  |  |  | - |
Other |  |  | - |  |  |  | - |
Total deferred tax expense |  |  | - |  |  |  | - |
Total tax expense |  | $ | - |  |  | $ | - |
* | Immaterial amounts
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | The tax effects of significant items comprising the Company’s deferred taxes as of December 31 are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES
|  | December 31, 2024 |  |  | December 31, 2023 |
Deferred tax assets: |  |  |  |  |  |  |  |
Start-up expenses |  | $ | 2,469,389 |  |  | $ | 524,208 |
Land development costs |  |  | - |  |  |  | 52,584 |
Net operating loss |  |  | 2,442,165 |  |  |  | 1,715 |
Accruals and other |  |  | 696 |  |  |  | 137 |
Stock based compensation |  |  | 1,623,724 |  |  |  | - |
Accrued bonuses |  |  | 289,460 |  |  |  | - |
Bridge loan discount |  |  | 375,240 |  |  |  | - |
Total deferred tax assets |  |  | 7,200,674 |  |  |  | 578,644 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Fixed assets |  |  | (495 | ) |  |  | - |
Total deferred tax liabilities |  |  | (495 | ) |  |  | - |
Valuation allowance |  |  | (7,200,179 | ) |  |  | (578,644 | )
Net deferred taxes |  | $ | - |  |  | $ | - |
SCHEDULE OF NET OPERATING LOSSES AND TAX CREDIT CARRYFORWARDS | Net operating losses and tax credit carryforwards as of the Financial Statement Date December 31, 2024, are as follows: SCHEDULE OF NET OPERATING LOSSES AND TAX CREDIT CARRYFORWARDS
|  | Amount |  |  | Expiration Years
Net operating losses, federal (Post December 31, 2017) |  | $ | 10,985,067 |  |  | Do Not Expire
Net operating losses, state |  |  | 4,225,813 |  |  | -
SCHEDULE OF EFFECTIVE TAX RATE OF COMPANY’S PROVISION (BENEFIT) | The effective tax rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows: SCHEDULE OF EFFECTIVE TAX RATE OF COMPANY’S PROVISION (BENEFIT)
|  | Year ended December 31, 2024 |  |  | Period from March 16, 2023 (inception) through December 31, 2023 |
Statutory rate |  |  | 21.00 | % |  |  | 21.00 | %
State tax |  |  | 1.44 | % |  |  | 0.74 | %
SPAC exploration expenses |  |  | - |  |  |  | -2.49 | %
SAFE note expenses |  |  | -0.84 | % |  |  | -3.76 | %
Change in valuation allowance |  |  | -25.77 | % |  |  | -15.25 | %
Start up costs |  |  | 8.06 | % |  |  | - |
Other |  |  | -1.20 | % |  |  | -0.24 | %
Earn out shares value adjustment |  |  | 3.60 | % |  |  | - |
Success based fees |  |  | 2.78 | % |  |  | - |
Stock based compensation |  |  | -2.37 | % |  |  | - |
IPO related finance charge |  |  | -6.70 | % |  |  | - |
Total |  |  | - |  |  |  | - |
The effective tax rate of the Company’s provision (benefit) for income taxes differs from the federal statutory rate as follows (in dollars):
|  | Year ended December 31, 2024 |  |  | Period from March 16, 2023 (inception) through December 31, 2023 |
Statutory rate |  | $ | (4,988,311 | ) |  | $ | (796,653 | )
State tax |  |  | (343,105 | ) |  |  | (28,171 | )
SPAC exploration expenses |  |  | - |  |  |  | 94,524 |
SAFE note expenses |  |  | 200,550 |  |  |  | 142,485 |
Change in valuation allowance |  |  | 6,122,057 |  |  |  | 578,644 |
Start up costs |  |  | (1,914,151 | ) |  |  | - |
Other |  |  | 285,233 |  |  |  | 9,171 |
Earn out shares value adjustment |  |  | (856,002 | ) |  |  | - |
Success based fees |  |  | (661,500 | ) |  |  | - |
Stock based compensation |  |  | 563,884 |  |  |  | - |
IPO related finance charge |  |  | 1,591,345 |  |  |  | - |
Total |  | $ | - |  |  | $ | - |

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

X
- Definition Tabular disclosure of tax credit carryforwards available to reduce future taxable income, including amounts, expiration dates, limitations on use and the related deferred tax assets and valuation allowances. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfTaxCreditCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration