Income Taxes

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

NOTE F - INCOME TAXES

During the nine months ended September 30, 2022, we generated a federal net operating loss (“NOL”) carryforward of $19.9 million and generated $6.2 million of foreign NOL carryforwards. As of September 30, 2022, we had consolidated income tax NOL carryforwards for federal tax purposes of approximately $228.9 million and net operating loss carryforwards for foreign income tax purposes of approximately $81.1 million. From 2025 through 2027, approximately $47 million of the NOL will expire, and from 2028 through 2037, approximately $128 million of the NOL will expire. The NOL generated in 2018 through 2022 of approximately $53.8 million will be carried forward indefinitely.