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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes [Abstract]

Schedule of Provision for Income Taxes

The provision for income taxes for the years ended December 31, 2024 and 2023, is set forth below:

		Year Ended				Year Ended
		December 31,				December 31,
		2024				2023
Current
Federal		$	-			$	-
State			-				-
Total Provision for Income Taxes		$	-			$	-

Schedule of Federal Statutory Rate

The following is a reconciliation of our income tax rate computed using the federal statutory rate to our actual income tax rate for the years ended December 31, 2024 and 2023 is set forth below:

		Year Ended				Year Ended
		December 31,				December 31,
		2024				2023
U.S. statutory income tax rate			21.00	%			21.00	%
State taxes, net of federal benefit			0.22	%			2.43	%
Permanent difference, overaccruals, and non-deductible items			-0.82	%			-2.71	%
Change in state rate			-7.53	%			-15.20	%
Deferred tax valuation allowance			-13.77	%			-10.13	%
True-up and Other			0.90	%			4.61	%
Total			0.00	%			0.00	%

Schedule of Net Deferred Tax Assets

The components of net deferred tax assets at December 31, are set forth below:

		December 31,				December 31,
		2024				2023
Deferred tax assets:
Current:
Net operation loss		$	4,871,000			$	4,996,000
Allowance for doubtful accounts			140,000				133,000
Inventory - IRC 263A adjustment			296,000				336,000
Stock based compensation - options and restricted stock			218,000				159,000
Capitalized engineering costs			134,000				211,000
Amortization - NTW Transaction			178,000				251,000
Inventory reserve			644,000				715,000
Deferred gain on sale of real estate			14,000				23,000
Accrued Expenses			113,000				37,000
Disallowed interest			2,269,000				2,024,000
Operating lease liabilities			339,000				546,000
Total deferred tax asset before valuation allowance			9,216,000				9,431,000
Valuation allowance			(8,091,000	)			(7,903,000	)
Total deferred tax asset after valuation allowance			1,125,000				1,528,000
Deferred tax liabilities			(255,000	)			(1,114,000	)
Property and equipment			(870,000	)			(414,000	)
Total deferred tax liabilities			(1,125,000	)			(1,528,000	)
Net deferred tax asset		$	-			$	-

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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
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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.

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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.

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