Schedule of net deferred tax assets |
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As of December 31, |
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2024 |
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2023 |
Deferred tax assets: |
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Net operating loss carryforwards |
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$ |
26,081,361 |
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$ |
7,132,019 |
Research and development tax credits |
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8,765,999 |
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— |
Capitalized research and development expenditures |
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1,627,842 |
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1,524,035 |
Stock compensation |
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1,434,890 |
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1,441,652 |
Depreciation and amortization |
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275,412 |
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|
14,049 |
Lease liabilities |
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58,227 |
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— |
Investment in partnership |
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30,035 |
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30,639 |
Gross deferred tax assets |
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38,273,766 |
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10,142,394 |
Valuation allowance |
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(31,370,027) |
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(9,926,772) |
Net deferred tax assets |
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6,903,739 |
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215,622 |
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Deferred tax liabilities: |
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Right-of-use asset |
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(55,341) |
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— |
In-process research and development intangible assets |
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(17,741,842) |
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— |
Prepaid expenses |
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(421,481) |
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(215,622) |
Deferred tax liabilities |
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(18,218,664) |
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(215,622) |
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Net deferred taxes |
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$ |
(11,314,925) |
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$ |
— |
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