Company: AGGI
Filing Date: 2025-10-31
Form Type: 10-12G
Source: 0001683168-25-007875
Chunk: 76

Company: Allied Energy, Inc.
Filing Date: 2025-10-31
Form: 10-12G
Chunk 76
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 Company evaluated the potential tax benefits
associated with the legal acquirer’s historical NOLs under ASC 740. Because the transaction resulted in a change of ownership under
Internal Revenue Code 382 and the legal acquirer had no continuing operations, no deferred tax asset has been recognized for those NOLs.
Utilization of such pre-acquisition losses, if any, would be limited and will be recognized in the period utilization becomes more likely
than not.

Canada

The subsidiaries of the Company operating in Canada
are subject to a small business income tax rate of 12.2%, which includes federal and provincial rates.

At December 31, 2024, the Canadian subsidiaries
had approximately $1,336,784 of net operating losses ("NOLs") available to offset future taxable income. These NOLs may be carried
forward for up to 20 years.

| F-15 |

Deferred Tax Assets

The components of deferred tax assets are summarized as follows ($):

| December 31                                 |     | 2024 |          |   |     | 2023 |         |   |
|:--------------------------------------------|:----|:-----|---------:|:--|:----|:-----|--------:|:--|
| Deferred tax assets – U.S. NOLs (21%)       |     |      |    1,050 |   |     |      |       – |   |
| Deferred tax assets – Canadian NOLs (12.2%) |     |      |  163,088 |   |     |      |  99,523 |   |
| Gross deferred tax assets                   |     |      |  164,138 |   |     |      |  99,523 |   |
| Less: Valuation allowance                   |     |      | (164,138 | ) |     |      | (99,523 | ) |
| Net deferred tax assets                     |     |      |        – |   |     |      |       – |   |

The reconciliation of the U.S. federal statutory income tax rate to
the Company’s effective tax rate is as follows:

| Years Ended December 31                    |     | 2024 |        |   |     | 2023 |        |   |
|:-------------------------------------------|:----|:-----|:-------|:--|:----|:-----|:-------|:--|
| U.S. federal statutory income tax rate     |     |      |