Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Taxes

Summary of company's benefit for income taxes

	2023			2022
Deferred:
Federal	$	(5,567,459	)	$	(1,600,538	)
State and local		35,157			(688,620	)
Total deferred		(5,532,302	)		(2,289,158	)
Total provision (benefit) for income taxes		(5,532,302	)		(2,289,158	)
Less: valuation allowance		5,532,302			2,289,158
Income tax provision	$	—		$	—

Summary of reconciliation of the federal statutory rate

	2023			2022
Benefit for income taxes at federal statutory rate		21.0	%		21.0	%
State and local income taxes, net of federal benefit		3.9			3.9
Less valuation allowance		(24.9	)		(24.9	)
Effective income tax rate		0.0	%		0.0	%

Schedule of deferred tax assets (liabilities)

	2023			2022
Net operating loss carryforward	$	12,138,836		$	8,155,944
Bad debt reserve		34,338			37,734
Employee stock compensation		2,605,215			2,031,628
Intangible assets		305,516			(467,395	)
Depreciation		(181,016	)		(165,336	)
Accrued expenses		296,808			74,801
Charity		194			213
Net deferred tax asset		15,199,891			9,667,589
Valuation allowance		(15,199,891	)		(9,667,589	)
Net deferred tax asset	$	—		$	—