v3.25.3
Income Taxes (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
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  $—   $—