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Note R - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Net Income (Loss) by Geographic Areas [Table Text Block]

		Year ended				Year ended
		December 31,				December 31,
		2023				2022
United States		$	(7,279,970	)		$	(10,416,593	)
Hong Kong			(627,146	)			(458,839	)
Nigeria			(203,700	)			(143,499	)
Spain			(411,021	)			(890,972	)
Total		$	(8,521,837	)		$	(11,909,903	)

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

		Year ended				Year ended
		December 31,				December 31,
		2023				2022
Current – federal,		$	-			$	-
state
foreign			40,986
Deferred- Federal							1,175,000
States							122,000
Foreign			(175,000	)			(20,434	)
Total			(134,014	)			1,276,566
Change in valuation allowance							(1,297,000	)
Provision for income tax expense (benefit)		$	(134,014	)		$	(20,434	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		December 31,				December 31,
		2023				2022
Accrued compensation		$	112,201			$	113,000
Allowance for doubtful accounts			90,405				169,000
Research and development expenses			1,017,551				633,000
Capital loss carry forward			114,251				114,000
Stock-based compensation			32,408				456,000
Equipment and leasehold improvements			(12,353	)			(19,000	)
Intangible assets - US			-				341,000
Intangible assets - Foreign			(145,000	)			(170,000	)
Reserve - Foreign			150,000				-
Inventory reserve			828,668				89,000
Interest expense			-				44,000
Operating lease liabilities			-				44,000
Other			1,000				-
Tax credits			1,748,235				-
Operating lease right-of-use assets			206				(44,000	)
Net operating loss and research and credit carryforwards			13,277,118				15,248,000
Valuation allowance			(17,214,690	)			(17,188,000	)
Net deferred tax liability		$	-			$	(170,000	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

		Year ended				Year ended
		December 31,				December 31,
		2023				2022
Federal statutory income tax rate			21	%			21	%
State taxes, net of federal benefit			(1.41	)			0.9
Permanent differences			1.97				(4.7	)
Expiration of net operating loss and research credit carryforwards			(7.84	)			(5.7	)
Expiration and forfeiture of stock options			-				(0.3	)
foreign rate differential			(5.84	)
rate change			(1.05	)
Other			(9.08	)			(0.5	)
Valuation allowance			(0.24	)			(10.9	)
Effective tax rate			(2.5	)%			(0.2	)%

X

- Definition

Tabular disclosure of net income (loss) by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.

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