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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Taxes

Summary of company's benefit for income taxes

			2024				2023
	Deferred:
	Federal		$	(4,070,218	)		$	(5,567,459	)
	State and local			(852,357	)			35,157
	Total deferred			(4,922,575	)			(5,532,302	)
	Total provision (benefit) for income taxes			(4,922,575	)			(5,532,302	)
	Less: valuation allowance			4,922,575				5,532,302
	Income tax provision		$	—			$	—

Summary of reconciliation of the federal statutory rate

			2024				2023
	Benefit for income taxes at federal statutory rate			21.0	%			21.0	%
	State and local income taxes, net of federal benefit			3.9				3.9
	Less valuation allowance			(24.9	)			(24.9	)
	Effective income tax rate			0.0	%			0.0	%

Schedule of deferred tax assets (liabilities)

			2024				2023
	Net operating loss carryforward		$	15,183,149			$	12,138,836
	Bad debt reserve			34,338				34,338
	Employee stock compensation			2,847,598				2,605,215
	Intangible assets			544,555				305,516
	Depreciation			(121,403	)			(181,016	)
	Accrued expenses			207,966				296,808
	Change in fair value of investments			1,558,777				—
	Charity			194				194
	Net deferred tax asset			20,255,174				15,199,891
	Valuation allowance			(20,255,174	)			(15,199,891	)
	Net deferred tax asset		$	—			$	—

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- Definition

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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
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