Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Taxes

Schedule of income tax expense (benefit)

	2025		2024
Current:
Federal	$	—	$	35,088
State		700		—
Foreign		1,849		1,278
Total current income tax		2,549		36,366
Deferred:
Federal		15,401		(15,401)
State		—		—
Foreign		—		—
Total deferred tax		15,401		(15,401)
Total income tax expense	$	17,950	$	20,965

Reconciliation between domestic and international earnings (loss) before income taxes

	2025		2024
Domestic	$	(17,127,042)	$	(1,374,250)
International		(10,871,649)		(10,090,195)
Net loss before income taxes	$	(27,998,691)	$	(11,464,445)

Reconciliation between the effective income tax rate and the federal statutory income tax rate

	2025				2024
Federal tax at statutory rate	$	(5,879,725)	21.0	%	$	(2,407,533)	21.0	%
Permanent book/tax differences		1,317,897	(4.7)			676,297	(5.9)
Return to provision adjustments		1,392,136	(5.0)			(65,996)	0.6
Difference in tax rates		(539,994)	1.9			(586,767)	5.1
Impact of Canadian dollar exchange rate changes		(1,013,116)	3.6			1,560,416	(13.6)
Change in valuation allowance		4,740,752	(16.9)			844,548	(7.4)
Total tax expense	$	17,950	(0.1)	%	$	20,965	(0.2)	%

Summary of significant components of the deferred tax assets and liabilities

	2025		2024
Deferred tax assets:
R&D expenses	$	3,485,406	$	3,380,350
Net operating loss carryforwards		17,547,661		13,401,755
Tax credit carryforwards		2,445,772		3,133,678
Operating lease liabilities		498,400		239,253
Stock based compensation		502,016		—
R&D intangible tax pool section 174		622,270		—
Other		93,988		73,668
Total gross deferred tax assets		25,195,513		20,228,704
Valuation allowance		(24,640,726)		(19,821,008)
Total deferred tax assets, net of valuation allowance		554,787		407,696
Deferred tax liabilities
Property and equipment		(94,585)		(60,460)
Intangible assets		(27,892)		(96,660)
Right of use assets		(432,310)		(176,333)
Convertible debt		—		(740,196)
Total gross deferred tax liabilities		(554,787)		(1,073,649)
Net deferred tax liabilities	$	—	$	(665,953)