INCOME AND OTHER TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME AND OTHER TAXES

Schedule of Income before Income Tax, Domestic and Foreign

	2022			2021
Domestic	$	2,729,793		$	1,853,423
Foreign		(2,285,059	)		(1,913,892	)
Total	$	444,734		$	(60,469	)

Schedule of Effective Income Tax Rate Reconciliation

	2022			2021
Tax liability (benefit) at federal statutory rate	$	93,000		$	(13,000	)
State income tax effect		67,000			(2,000	)
Foreign income tax effect		(136,000	)		(127,000	)
Non-deductible items		4,000			-
Non-taxable item - gain on CARES Act loan		-			(93,000	)
Percentage depletion		-			(20,000	)
Adj for prior year tax estimate to actual-domestic		69,000			44,000
Adj for prior year tax estimate to actual-foreign		(32,000	)		1,431,000
Impact on change in state tax rate		7,000			-
Impact on change in foreign exchange rate		(83,000	)		35,000
Change in valuation allowance - Domestic		(358,000	)		(212,000	)
Change in valuation allowance - Foreign		385,000			(1,043,000	)
Total	$	16,000		$	-

Schedule of Deferred Tax Assets and Liabilities

	2022			2021
Deferred tax asset:
Domestic net operating loss carry forward	$	307,000		$	485,000
Foreign net operating loss carry forward		1,958,000			1,573,000
Deferred tax asset		2,265,000			2,058,000
Valuation allowance (domestic)		(58,000	)		(416,000	)
Valuation allowance (foreign)		(1,958,000	)		(1,573,000	)
Total deferred tax asset		249,000			69,000
Deferred tax liability:
Property, plant, and equipment		(245,000	)		(68,000	)
Other		(4,000	)		(1,000	)
Total deferred tax liability		(249,000	)		(69,000	)
Net deferred tax asset	$	-		$	-