v3.26.1
INCOME TAXES (Tables)
12 Months Ended
Jan. 31, 2025
INCOME TAXES  
Schedule of reconciliation of the federal statutory tax rate to the effective tax rate

 

 

Years Ended January 31,

 

 

 

2025

 

 

2024

 

Statutory federal income tax rate

 

 

21.00%

 

 

21.00%

State income taxes, net of federal tax benefit

 

 

-

 

 

 

-

 

Valuation allowance

 

 

(21.00)%

 

 

(21.00)%

Other, net

 

 

-

 

 

 

-

 

Effective tax rate

 

 

0.00%

 

 

0.00%
Schedule of deferred tax assets and liabilities

 

 

Years Ended January 31,

 

 

 

2025

 

 

2024

 

Deferred tax assets:

 

 

 

 

 

 

Allowance for credit loss

 

$7,063

 

 

$7,063

 

Impairment expense

 

 

2,194

 

 

 

2,194

 

Stock based compensation

 

 

57,636

 

 

 

34,555

 

Operating lease liability

 

 

-

 

 

 

19,600

 

Net operating loss carryforward

 

 

1,173,682

 

 

 

1,041,256

 

Total deferred tax assets

 

 

1,240,575

 

 

 

1,104,668

 

Valuation allowance

 

 

(1,238,484)

 

 

(1,078,716)

Net deferred tax assets

 

 

2,091

 

 

 

25,952

 

 

 

 

 

 

 

 

 

 

Deferred tax liabilities:

 

 

 

 

 

 

 

 

Amortization and depreciation

 

 

(2,091)

 

 

(7,125)

Operating lease right-of-use assets

 

 

-

 

 

 

(18,827)

Total deferred tax liabilities

 

 

(2,091)

 

 

(25,952)

 

 

 

 

 

 

 

 

 

Net deferred tax assets (liabilities)

 

$-

 

 

$-