INCOME TAXES

9 Months Ended

Sep. 30, 2025

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 11 - INCOME TAXES

The estimated annual effective tax rate applied to the nine months ended September 30, 2025, is 0.4% which differs from the US federal statutory rate of 21% principally due to the projection of U.S. net operating loss for the fiscal 2025 with full application of a valuation allowance and the change in the net deferred tax liability remaining after application of the valuation allowance (“naked credit” or “hanging credit”).  As of September 30, 2025, we had US Federal and state net operating loss carryforwards (“NOLs”) with a tax benefit of $43,816.9. NOLs are available for use indefinitely.