Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.24.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of effective income tax rate reconciliation
           
    Year Ended     Year Ended  
    December 31,     December 31,  
    2023     2022  
Income tax benefit computed at the statutory rate   $ 3,959,000     $ 3,206,000  
Tax effect of:                
True-ups and non-deductible expenses     118,000     (194,000 )
Change in valuation allowance     (4,077,000 )     (3,012,000 )
Provision for income taxes   $     $  
Schedule of deferred tax assets
           
    As of     As of  
    December 31,     December 31,  
    2023     2022  
Deferred income tax assets                
Net operating losses   $ 6,672,000     $ 8,603,000  
Stock-based compensation     873,000       715,000  
Capitalized 174 expenses     5,420,000        
Deferred income tax liability                
Prepaid expenses     (198,000 )     (628,000 )
Valuation allowance     (12,767,000 )     (8,690,000 )
Net deferred income tax assets   $     $