Annual report [Section 13 and 15(d), not S-K Item 405]

INCOME TAXES (Tables)

v3.25.4
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2025
INCOME TAXES  
Schedule of components of net deferred income tax asset

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

Deferred tax assets

Net operating loss carry forwards

$

10,470,168

$

8,017,189

Share-based compensation

 

4,564,063

 

4,054,969

Research and development credit carryforwards

 

331,671

 

331,671

Capitalized research and development

3,379,658

3,752,043

Other

41,905

154,625

Gross deferred tax assets

18,787,465

16,310,497

Less valuation allowance

(18,787,465)

(16,310,497)

Net deferred tax asset

$

$

Summary of reconciliation of income tax expense (benefit)

December 31, 2025

December 31, 2024

Federal income tax expense at statutory rate

21.0

%

21.0

%

State income tax, net of federal benefit

10.2

10.2

Permanent differences

(0.1)

(0.1)

Research and development tax credit

Change in valuation allowance

(31.1)

(31.1)

Effective income tax rate

%

%