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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

SCHEDULE OF PROVISION FOR INCOME TAXES

The Company’s provision for income taxes consisted of the following:

SCHEDULE OF PROVISION FOR INCOME TAXES 

		For the year ended December 31,
		2024				2023
Computed “expected” tax benefit		$	(3,154,290	)		$	(3,238,593	)
State taxes, net of federal benefit			(11,768	)			1,304
Non-deductible items			230,890				61,842
Change in deferred tax asset valuation allowance			2,454,200				2,509,496
Stock-based compensation			482,045				613,167
Return-to-provision adjustments			2				41,316
Other			621				13,918
Income tax expense		$	1,700			$	2,450

SCHEDULE OF NET DEFERRED TAX ASSETS

The Company’s net deferred tax assets were comprised of the following as of December 31, 2024 and 2023:

SCHEDULE OF NET DEFERRED TAX ASSETS

		2024				2023
Deferred tax assets:
Net operating losses		$	53,447,116			$	51,846,000
Capitalized research and development			2,959,591				2,162,872
Stock-based compensation			288,756				261,052
Accruals			249,495				220,923
Operating lease liabilities			17,760				36,761
Other			616				559
Total gross deferred tax assets			56,963,334				54,528,167
Deferred tax liabilities:
Right-of-use asset			(17,340	)			(36,373	)
Gross deferred tax liabilities			(17,340	)			(36,373	)
Less: Deferred tax asset valuation allowance			(56,945,994	)			(54,491,794	)
Total net deferred tax assets		$	-			$	-

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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
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-9

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

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