Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Taxes [Abstract]

Income tax expense

Income tax expense consists of the following:

Income tax expense from continuing operations		2025
Current tax expense
Federal	$	—
State and local		1,297
Total current tax expense	$	1,297
Deferred tax expense
Federal		(4,205,724	)
State and local		13,844
Total deferred tax expense	$	(4,191,880	)
Valuation allowance		4,191,880
Total income tax expense
Federal		—
State and local		1,297
Total income tax expense	$	1,297

The current tax provisions and deferred tax provisions, as reflected in the financial statements are as follows as of December 31, 2024:

		2024
Current federal taxes	$	—
Current state taxes		9,602
Current tax provision		9,602
Deferred federal taxes		(4,433,940	)
Deferred state taxes		(342,310	)
Valuation allowance change		4,776,250
Deferred tax provision		—
Total income tax expense provision	$	9,602

Reconciliation of Income Tax Expense at Statutory Federal Income Tax Rate and Income Taxes

The following table is a reconciliation of the federal statutory rate to the Company’s effective rate for the year ended December 31, 2025:

		2025
		Total		%
Loss from continuing operations before income tax expense	$	(18,626,590	)
Tax provision at U.S. federal statutory rate		(3,911,584	)	21.00	%
Federal
Permanent differences		(73,174	)	0.40	%
Research and development credit		(415,511	)	2.20	%
Other deferred adjustments		194,817		(1.00	)%
Valuation allowance		4,205,724		(22.60	)%
Changes in unrecognized tax benefits
State income taxes, net of federal income tax benefit		1,025		0.00	%
Income tax expense	$	1,297		—	%

The following is a reconciliation of income tax expense at the statutory federal income tax rate and income taxes as for the year ended December 31, 2024 in accordance with guidance prior to the adoption of ASU 2023-09:

	2024
Federal income tax at statutory federal rate	21	%
Permanent differences	—
Research and development credit	3
Other deferred adjustments	—
State income tax expense (net of federal benefit)	2
Valuation allowance	(26	)
Effective tax rate	—	%

Income Taxes Paid

Under the prospective adoption of ASU 2023-09, income taxes paid by jurisdiction as of December 31, 2025, are as follows:

		2025
U.S. Federal	$	—
New York		2,000
California		1,600
New Hampshire		1,100
Georgia		1,000
New Jersey		500
Massachusetts		456
Other States		150
Total U.S. State and Local		6,806
Total income taxes paid	$	6,806

Components of Deferred Tax Assets (Liabilities)

Deferred tax assets (liabilities) consisted of the following as of December 31, 2025 and 2024:

		2025		2024
Deferred tax asset arising from
Net operating loss carryforwards	$	26,318,782		23,030,273
Accrued expenses (compensation)		109,914		138,806
Intangibles		98,355		93,426
Property and equipment		67,159		80,313
Research and development expense capitalization		3,835,472		3,326,621
Research and development tax credits		4,139,328		3,839,058
Share-based compensation expense		375,773		257,891
Lease liabilities		344,986		471,733
Other		10,796		5,210
Deferred tax asset		35,300,565		31,243,331
Deferred tax liability arising from:
Uniform capitalization		—		(11,092	)
Right-of-use assets		(294,769	)	(418,323	)
Deferred tax liability		(294,769	)	(429,415	)
Valuation allowance	$	35,005,796		30,813,916
Net deferred tax asset	$	—		—

Federal Net Operating Loss Carryforwards Available to Future Years

The following schedule indicates the expiration year, as of December 31, for the Company’s federal net operating loss carryforwards available to future years without taking into account any Section 382 limitations as of December 31, 2025:

2026	$	1,213,130
2027		2,082,043
2028		2,536,605
2029		2,235,045
2030		4,132,949
2031		3,160,709
2032		3,533,521
2033		2,987,848
2034		2,516,728
2035		4,777,558
2036		4,503,474
2037		6,869,819
2038		11,194,631
Indefinitely		68,385,785
Total	$	120,129,845