Annual report [Section 13 and 15(d), not S-K Item 405]

Income Taxes (Tables)

v3.26.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2025
Income Taxes [Abstract]  
Schedule of Components of Loss Before Income Taxes

The components of loss before income taxes are as follows:

 

    Year Ended December 31,  
    2025     2024  
Domestic   $ (2,143,137 )   $ (3,019,430 )
Foreign    
-
      (1,531,180 )
Total   $ (2,143,137 )   $ (4,550,610 )
Schedule of Provision for Income Taxes

Upon adoption of ASU No. 2023-09, for the year ended December 31, 2025 and 2024, the provision for income taxes differs from the expense that would be obtained by applying the U.S. federal statutory income tax rate as a result of the following:

 

    2025     2025     2024     2024  
    ($)     (%)     ($)     (%)  
Loss before income taxes for the year     (2,143,137 )             (4,550,610 )        
                                 
Income tax at federal statutory rate     (450,059 )     (21 )%     (1,248,000 )     (27 )%
Increase (decrease) in tax resulting from:                                
Change in statutory, foreign tax, foreign exchange rates and other    
-
     
-
%     185,000       4 %
Permanent differences     93,055       4 %     36,226       1 %
Foreign exchange    
-
     
-
%     732,000       16 %
California minimum tax     1,600      
-
%     1,000      
-
%
Late filing penalty    
-
     
-
%     24,000      
-
%
Change in unrecognized deductible temporary differences     328,000       16 %     125,000       2 %
Other     29,000       1 %     169,000       4 %
Income tax expense     1,596               24,226          
Schedule of Net Deferred Tax Assets Liabilities

The net deferred tax assets (liabilities) are comprised of the following:

 

    2025     2024  
    ($)     ($)  
Deferred tax assets:            
Non-capital losses carry-forward     12,609,434       18,198,000  
Share issuance costs    
-
      733,000  
Other deferred     1,648       51,000  
Allowable capital losses    
-
      3,350,000  
Property and equipment    
-
      55,000  
Valuation allowance     (12,610,978 )     (22,387,000 )
Total deferred income taxes    
-
     
-