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Income Taxes (Tables)

12 Months Ended

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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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
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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

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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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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