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Note 10 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
  Year Ended December 31, 
  

2022

 

Current benefit:

    

Federal

 $- 

State

  - 

Deferred benefit:

    

Federal

  186,103 

State

  5,575 

Valuation allowance

  - 

Total income tax benefit

 $191,678 
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
  

December 31, 2022

 

Deferred tax assets:

    

Carrying value differences

 $203,541 

Net operating loss carryforwards

  1,475,901 

Net deferred tax assets

  1,679,442 

Deferred tax liabilities:

    

Carrying value differences

  (238,208)

Net deferreds

 $1,441,234 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
  Year Ended December 31, 
  

2022

 

Net income tax (provision) benefit at federal statutory rate of 21%

 $172,768 

Adjustments to reconcile to the effective rate:

    

State and local income (tax) benefit, net of federal tax benefits

  14,736 

W-1 Warrant mark-to-market

  189,000 

Stock compensation expense

  (185,169)

Other

  343 

Effective income tax (provision) benefit

 $191,678