v3.25.4

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		$	-			$	-

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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

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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
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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

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-Section 50
-Paragraph 2
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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

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-Topic 740
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

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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.

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