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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Provision for Income Taxes
The components of income (loss) before taxes for the years ended December 31, 2023 and 2022 are as follows:

20232022
United States$6,949,525 $(32,493,098)
International759,984 (5,531,211)
Total$7,709,509 $(38,024,309)

The components of income tax expense for the years ended December 31, 2023 and 2022 are as follows:

20232022
Current tax expense
Federal$421,237 $— 
Foreign— — 
State190,250 69,447 
Deferred tax expense
Federal— — 
Foreign— — 
State— — 
Income tax expense$611,487 $69,447 
Schedule of Deferred Tax Assets and Liabilities
The components of the net deferred tax assets and liabilities as of December 31, 2023 and 2022 are as follows:

20232022
Deferred tax assets:
Net operating loss carryforwards$21,713,610 $25,459,247 
Allowance for credit losses
3,141,395 3,389,435 
Equity based compensation802,100 1,322,642 
Research and experimental expenditures412,699 216,391 
Lease liability285,415 17,575 
Startup costs8,339 9,514 
Accruals922,553 458,609 
Nondeductible interest5,691,795 3,816,974 
Other60,819 365,743 
Total net deferred tax assets33,038,725 35,056,130 
Valuation allowance(32,450,807)(34,868,210)
Deferred tax liabilities:
Depreciation and amortization(291,252)(168,505)
Right-of-use asset(296,666)(19,415)
Total net deferred tax liabilities(587,918)(187,920)
Net deferred tax asset (liability)$ $ 
Schedule of Federal Income Tax Rate
A reconciliation of our provision for income taxes at the federal statutory rate to the reported income tax provision for the years ended December 31, 2023 and 2022 are as follows:

20232022
Computed "expected" tax benefit21.0 %(21.0)%
State income tax benefit, net of federal tax effect5.8 (2.6)
Nondeductible equity based compensation10.2 9.7 
Other permanent differences1.7 (0.5)
Change in valuation allowance(30.9)15.9 
Foreign rate differentials and other0.1 (1.3)
Income tax expense
7.9 %0.2 %