XML 44 R32.htm IDEA: XBRL DOCUMENT v3.24.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES

		2023				2022
		December 31,
		2023				2022
Deferred tax assets:
Net operating loss carryover		$	6,479,696			$	3,871,192
Stock compensation			325,320				477,055
Capitalized R&E costs			525,463				260,560
Other			204,013				5,708
Operating lease liabilities			79,319				—
Tax credits			582,206				443,867
Total deferred tax assets			8,196,018				5,058,382
Deferred tax liability:
Right-of-use asset tax liability		$	(77,766	)		$	—
Depreciation and amortization			(59,248	)			(7,337	)
Total deferred tax liability			(137,014				(7,337	)
Less: valuation allowance			(8,059,004	)			(5,051,045	)
Total property and equipment, net		$	0			$	0

SCHEDULE OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX RATE

The reconciliation of the statutory federal income tax rate to the Company’s effective tax rate for the years ended December 31, 2023 and 2022, was as follows:

SCHEDULE OF RECONCILIATION OF STATUTORY FEDERAL INCOME TAX RATE

		2023				2022
		December 31,
		2023				2022
Tax at federal statutory rate			-21.00	%			-21.00	%
Permanent differences			0.03	%			10.40	%
Research and development credits			0.83	%			2.20	%
Deferred balance true-up			16.07	%			0.00	%
Change in valuation allowance			-37.87	%			10.10	%
Effective income tax rate			0.00	%			0.00	%

SCHEDULE OF UNRECOGNIZED TAX BENEFITS

SCHEDULE OF UNRECOGNIZED TAX BENEFITS

		2023				2022
		December 31,
		2023				2022
Beginning balance		$	190,229			$	49,646
Additions based on tax positions related to the prior year			30,897				110,681
Additions based on tax positions related to the current year			28,391				29,902
Ending balance		$	249,517			$	190,229

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

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://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration