Company: AGGI
Filing Date: 2025-10-31
Form Type: 10-12G
Source: 0001683168-25-007875
Chunk: 75

Company: Allied Energy, Inc.
Filing Date: 2025-10-31
Form: 10-12G
Chunk 75
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 Ended December 31  |     | 2024 |          |   |     | 2023 |          |   |
|:-------------------------|:----|:-----|:---------|:--|:----|:-----|:---------|:--|
| United States            |     |      | (5,000   | ) |     |      | –        |   |
| Canada                   |     |      | (485,756 | ) |     |      | (457,185 | ) |
| Loss before income taxes |     |      | (490,756 | ) |     |      | (457,185 | ) |

Income tax expense was as follows:

| Years Ended December 31  |     | 2024 |       |     | 2023 |   |
|:-------------------------|:----|:-----|------:|:----|:-----|:--|
| Current – United States  |     |      |     – |     |      | – |
| Current – Canada         |     |      | 4,525 |     |      | – |
| Deferred – United States |     |      |     – |     |      | – |
| Deferred – Canada        |     |      |     – |     |      | – |
| Total income tax expense |     |      | 4,525 |     |      | – |

The Company
recorded a current income tax expense of $4,525 for the year ended December 31, 2024, related to Canadian tax on investment income. No
other current or deferred income taxes were recognized, as the Company and its subsidiaries incurred net operating losses in both 2024
and 2023.

United States

The Company is subject to US federal corporate
income tax rate of 21%.

At December 31, 2024, the Company had approximately
$5,000 of U.S. federal net operating losses available to offset future taxable income. These net operating losses may be carried forward
indefinitely and are subject to an annual limitation of 80% of taxable income.

In connection with the reverse acquisition completed on October 16,2024,
the Company (formerly AGGI Inc.) was determined to be the legal acquirer but accounting acquiree under ASC 805-40. The historical accumulated
deficit of $12,350,713 million of the legal acquirer was eliminated against Additional Paid-in Capital as part of the recapitalization.

The