Note 8 - Income Taxes

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Income Tax Disclosure [Text Block]

8. Income Taxes

The income tax expense in the Condensed Consolidated Statements of Operations is $0 for both the three-month periods ended March 31, 2025 and 2024, due to the valuation allowance recorded against the net deferred tax assets. The valuation allowance was initially recorded in 2023 based on management's determination that is more likely than not that the Company will not realize the net deferred tax assets in the future.

The effective tax rate is 0% for both the three-month periods ended March 31, 2025 and 2024. The difference between the statutory rate of 21% and the effective tax rate expense of 0% for both the three-month periods ended March 31, 2025 and 2024, is due to the valuation allowance recorded against the deferred tax assets, as noted.