v3.25.3
Simple Agreements for Future Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Simple Agreements For Future Equity  
Schedule of Components of Net Loss Before Income Taxes

Components of net loss before income taxes:  2024   2023 
United States  $(31,513,389)  $(14,406,262)
Foreign  $—   $— 
Schedule of US Federal Income Tax Rate to the Company's Effective Tax Rate

A reconciliation of the statutory U.S. federal income tax rate to the Company’s effective tax rate consists of the following:

   For the Years Ended December 31, 
   2024   2023 
Statutory federal income tax benefit  $(6,617,812)   21.0%  $(3,025,315)   21.0%
State taxes, net of federal tax benefit   (463,682)   1.5%   (219,705)   1.5%
Change in valuation allowance   2,968,883    -9.4%   2,079,231    -14.4%
Change in state tax rate   16,101    -0.1%   462,709    -3.2%
Change in fair value estimates   (107,489)   0.3%   (2,050,026)   14.2%
Non-deductible interest - IRC 163(l)   516,624    -1.6%   738,993    -5.1%
Non-deductible transaction/restructuring costs   -    0.0%   1,313,792    -9.1%
Loss on debt conversion & extinguishment   2,935,747    -9.3%   -    0.0%
Nondeductible warrant issuance expense   -    0.0%   552,321    -3.8%
Impairment of goodwill   612,511    -1.9%   -    0.0%
Other non-deductible expenses   139,117    -0.5%   148,000    -1.0%
Effective tax rate  $-    0.0%  $-    0.0%
Schedule of Components of Income Tax Provision (Benefit)

The components of income tax provision (benefit) are as follows:

   2024   2023 
   As of December 31, 
   2024   2023 
Federal:        
Current  $—   $— 
Deferred   —    — 
State and Local:          
Current   —    — 
Deferred   —    — 
Total  $—   $— 
Schedule of Temporary Differences that Give Rise to Deferred Tax Assets and Liabilities

   2024   2023 
   As of December 31, 
   2024   2023 
Deferred tax assets (liabilities):          
Net operating loss carryforwards  $12,347,734   $6,368,669 
Contribution carryforwards   23,718    24,626 
Tax credits   91,889    — 
Stock-based compensation   157,165    155,404 
Accrual to cash adjustment   -    1,299 
Starup costs & other intangibles   1,700,257    1,816,143 
Acquired intangibles   (870,569)   — 
Lease Liabilities   16,339    52,805 
Right of use assets   (16,308)   (30,236)
Accrued expenses   651,519    — 
Capitalized R&D costs (Sec. 174)   1,930,337    798,802 
Other   8,182    (3,363)
Deferred tax assets   16,040,263    9,184,149 
Valuation allowance   (16,040,263)   (9,184,149)
Deferred tax assets, net of allowance  $—   $—