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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Taxes [Abstract] |
Schedule of Income Tax Expense (Benefit) Included in the Statements of Operations and Comprehensive Loss | Income tax expense included in the statements of operations and comprehensive loss consisted of the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |
Federal |  | $ | 935,717 |  |  | $ | 2,381,973 |
Foreign |  |  | - |  |  |  | 2,204,454 |
State |  |  | (229,642 | ) |  |  | 995,545 |
Total current |  |  | 706,075 |  |  |  | 5,581,972 |
Deferred |  |  |  |  |  |  |  |
Federal |  |  | 270,495 |  |  |  | 366,647 |
Foreign |  |  | - |  |  |  | - |
State |  |  | - |  |  |  | - |
Total deferred |  |  | 270,495 |  |  |  | 366,647 |
Total provision |  | $ | 976,570 |  |  | $ | 5,948,619 |
Schedule of Reconciliation Income Tax Expense | Income tax expense differed from the amount computed by applying the Federal statutory income tax rate of 21% to pretax income (loss) for fiscal year 2024 as a result of the following:
|  | December 31, 2024 |
|  | Amount |  |  | Rate |
Income (loss) before taxes |  | $ | (45,360,217 | ) |  |  |  |
Federal tax at statutory rate |  |  | (9,482,578 | ) |  |  | 21 | %
State income taxes, net of federal tax benefit |  |  | (311,211 | ) |  |  | 0.7 | %
Foreign taxes |  |  | (377,077 | ) |  |  | 0.8 | %
Change in valuation allowance |  |  | (5,169,650 | ) |  |  | 11.5 | %
162(m) limitations |  |  | 1,217,581 |  |  |  | (2.7 | )%
Stock based compensation |  |  | 3,891,235 |  |  |  | (8.6 | )%
Permanent differences |  |  | (615,723 | ) |  |  | 1.4 | %
Difference and changes in tax rates |  |  | (96,667 | ) |  |  | 0.2 | %
Impact of deconsolidation |  |  | 2,613,260 |  |  |  | (5.8 | )%
Return to provision |  |  | 9,307,400 |  |  |  | (20.6 | )%
Total |  | $ | 976,570 |  |  |  | (2.1 | )%
Schedule of Deferred Tax Assets and Liabilities | The tax effects of temporary differences that gave rise to significant portions of the Company’s deferred tax assets and liabilities related to the following:
|  | December 31, |
|  | 2024 |  |  | 2023 |
Assets |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 20,003,160 |  |  | $ | 25,994,146 |
Operating Lease Liability |  |  | 1,097,752 |  |  |  | 630,235 |
Accrued Liabilities |  |  | 1,062,960 |  |  |  | 1,989,103 |
Unrealized Loss |  |  | 1,127,685 |  |  |  | 1,428,304 |
Stock based compensation |  |  | 3,278,494 |  |  |  | 5,836,809 |
Disallowed Interest Expense |  |  | - |  |  |  | - |
Business interest expense deduction limit |  |  | 2,578,311 |  |  |  | 2,178,167 |
Other |  |  | 22,288 |  |  |  | 22,865 |
Total deferred tax assets |  |  | 29,170,650 |  |  |  | 38,079,629 |
Liabilities |  |  |  |  |  |  |  |
Right of Use Asset |  |  | (1,148,959 | ) |  |  | (597,503 | )
Property, plant and equipment, net |  |  | (6,420,798 | ) |  |  | (10,150,612 | )
Derivative asset |  |  | (726,139 | ) |  |  | (1,016,616 | )
Total deferred tax liabilities |  |  | (8,295,896 | ) |  |  | (11,764,731 | )
Valuation allowance |  |  | (21,511,895 | ) |  |  | (26,681,545 | )
Net deferred tax liability |  | $ | (637,141 | ) |  | $ | (366,647 | )

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