Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Asset Net

The Company has the following net deferred tax asset:

 

    As of
December 31, 2023
    As of
December 31, 2022
 
Temporary Differences   $ 255,138     $ 247,534  
Unrealized gains    

120,135

      120,135  
Impairment losses on investment    

313,925

      324,364  
Net operating loss carryforward    

383,370

      286,626  
Total gross deferred tax assets    

(1,072,568

)     (978,659 )
                 
Net deferred tax assets   $ -     $ -  
Summary of Reconciliation of Statutory Federal Income Tax Rate

A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:

 

    For the Year ended
December 31, 2023
    For the Year ended
December 31, 2022
 
             
Expected federal statutory rate     (21.00 )%     (21.00 )%
State Effect on tax rate, net of federal benefit     (4.35 )%     (4.35 )%
Permanent differences     (5.75 )%     (5.75 )%
Change in valuation allowance     31.10 %     31.10 %
                 
Income tax provision (benefit)     -       -