XML 40 R24.htm IDEA: XBRL DOCUMENT
v3.26.1

Income Taxes | 12 Months Ended
--- | ---
Dec. 31, 2025
Income Tax Disclosure [Abstract] |
Income Taxes | Note 13 – Income Taxes The components of the provision for income taxes were as follows:
Schedule of provision for income taxes |  |  |  |  |  |  |  |
Year Ended December 31, |  | 2025 |  |  | 2024 |
Current: |  |  |  |  |  |  |  |
Federal |  |  | – |  |  |  | – |
State |  |  | – |  |  |  | 50 |
Foreign |  |  | (73,330 | ) |  |  | (90,434 | )
Total Current |  |  | (73,330 | ) |  |  | (90,384 | )
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | – |  |  |  | – |
State |  |  | – |  |  |  | – |
Foreign |  |  | 94,939 |  |  |  | (144,474 | )
Total Deferred |  |  | 94,939 |  |  |  | (144,474 | )
Total Income Tax Expense / (Benefit) |  |  | 21,609 |  |  |  | (234,858 | )
The Company’s effective tax rate differs from the federal statutory rate as follows:
Schedule of income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year Ended December 31, |  |  | 2025 |  |  |  | 2024 |
Pre-Tax Book Income |  |  | (1,250,286 | ) |  |  | 21.00% |  |  |  | (1,121,714 | ) |  |  | 20.89% |
State and Local Income Taxes |  |  | 44,533 |  |  |  | (0.75%) |  |  |  | 40 |  |  |  | 0.00% |
Effect of Rates Different than Statutory |  |  | 151,341 |  |  |  | (2.54%) |  |  |  | 62,181 |  |  |  | (1.16%) |
Other Foreign Taxes |  |  | – |  |  |  | 0.00% |  |  |  | (119,181 | ) |  |  | 2.22% |
Permanent Adjustments |  |  | 54,987 |  |  |  | (0.92%) |  |  |  | 56,092 |  |  |  | (1.04%) |
Change in Valuation Allowance |  |  | 1,107,342 |  |  |  | (18.60%) |  |  |  | 569,920 |  |  |  | (10.62%) |
Rate Change |  |  | – |  |  |  | 0.00% |  |  |  | 149,237 |  |  |  | (2.78%) |
Prior Year True up |  |  | (86,308 | ) |  |  | 1.45% |  |  |  | 156,540 |  |  |  | (2.92%) |
Other |  |  | – |  |  |  | –% |  |  |  | 12,027 |  |  |  | (0.22%) |
Total |  |  | 21,609 |  |  |  | (0.36%) |  |  |  | (234,858 | ) |  |  | 4.37% |
The components of the net deferred tax assets were as follows:
Schedule of components of net deferred tax assets |  |  |  |  |  |  |  |
Year Ended December 31, |  | 2025 |  |  | 2024 |
Deferred Tax Assets: |  |  |  |  |  |  |  |
Net Operating Loss, Credits and Carryforwards |  |  | 7,785,678 |  |  |  | 6,460,638 |
Fixed Assets |  |  | 2,818 |  |  |  | – |
Intangibles |  |  | 622,658 |  |  |  | 614,734 |
Research and Development |  |  | 25,327 |  |  |  | 25,327 |
Other deferred tax assets |  |  | – |  |  |  | 95,935 |
Lease Liability |  |  | 9,232 |  |  |  | 252,407 |
Valuation Allowance |  |  | (8,445,713 | ) |  |  | (6,967,294 | )
Total Deferred Tax Assets |  |  | – |  |  |  | 481,747 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Other deferred tax liabilities |  |  | – |  |  |  | (67 | )
Fixed Assets |  |  | – |  |  |  | (141,396 | )
Intangibles |  |  | – |  |  |  | – |
Right-of-Use Assets |  |  | – |  |  |  | (248,050 | )
Total Deferred Tax Liabilities |  |  | – |  |  |  | (389,513 | )
Net Deferred Tax Liability |  |  | – |  |  |  | 92,234 |
As of December 31, 2025, the Company has federal, state, foreign and provincial net operating loss carryforwards of approximately $26 million, $16.1 million, $4.3 million, and $3.3 million, respectively. Of the federal net operating loss forwards, approximately $9.4 million have expiration dates from 2027 to 2037. The remainder can be carried forward indefinitely but limited to 80% of taxable income. The foreign and provincial net operating loss carryforwards have a carryforward period of 20 years. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of a deferred tax asset will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences are deductible. In making this determination, management considers all available positive and negative evidence affecting specific deferred assets, including the Company's past and anticipated future performance, the reversal of deferred tax liabilities, the length of carryback and carry-forward periods, and the implementation of the tax planning strategies. Objective positive evidence is necessary to support a conclusion that a valuation allowance is not needed for all or a portion of deferred tax assets when significant negative evidence exists. Cumulative losses in recent years are the most compelling form of negative evidence considered by management in making this determination. For the years ended December 31, 2025 and 2024, management has determined that based on all available evidence, a valuation allowance of $8.4 million and $7.0, respectively is appropriate. The Company’s evaluation of uncertain tax matters was performed for tax years ended through December 31, 2025. Generally, the Company is subject to U.S. audit for the years ended December 31, 2024, 2023, and 2022 and may be subject to examination for amounts relating to net operating loss carryforwards generated in periods prior to December 31, 2024. The company is subject to Canada audit for the years ended December 31, 2024, 2023, 2022 and 2021 for Sunshine Biopharma Canada Inc and subject to Canada audit for the years ended December 31, 2024, 2023 and 2022 and June 30, 2022 for Nora Pharma Inc and may be subject to examination for amounts relating to net operating loss carryforwards generated in periods prior to December 31, 2024. On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the U.S. The OBBBA makes permanent key elements of the Tax Cuts and Jobs Act, including 100% bonus depreciation, domestic research cost expensing, and the business interest expense limitation. ASC Topic 740, Income Taxes, requires the tax effects of changes in tax rates and laws to be recognized in the period in which the legislation is enacted. Those effects, both current tax and deferred tax, are reported as part of continuing operations. The Company is currently assessing the impact of OBBBA on its Consolidated Financial Statements but currently does not believe that the OBBBA will have a material impact on the Company's income tax expense.

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 The entire disclosure for income tax. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477617/942-740-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478822/944-740-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 5: 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 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 270 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477891/740-270-50-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 6.I.5.Q1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/740/tableOfContent Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-14 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-21 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2 Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482603/740-30-50-2 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration