Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.21.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of net deferred taxes
    As of December 31,  
    2020     2019  
Net operating loss   $ 7,377,962     $ 6,408,788  
Stock options and compensation     1,491,232       747,277  
Other     -       18,716  
Deferred revenue     -       4,247  
Allowance for doubtful accounts     41,512       78,009  
Valuation allowance     (8,893,457 )     (7,088,189 )
Total deferred tax asset     17,249       168,848  
                 
Basis difference fixed assets     (17,249 )     (25,587 )
Basis difference intangible assets     -       (46,482 )
Other liabilities     -       (96,779 )
Total deferred tax liability     (17,249 )     (168,848 )
                 
Net deferred tax asset (liability)   $ -     $ -  
Schedule of provision for (benefit from) income taxes
    As of December 31,  
    2020     2019  
Current tax:            
Federal     -       -  
State     -       -  
Total     -       -  
                 
Deferred tax:                
Federal   $ (1,673,758 )   $ (1,575,843 )
State     (131,510 )     (123,778 )
Less: change in valuation allowance     1,805,268       1,699,621  
      -       -  
Total   $ -     $ -  
Schedule of statutory rate for reasons
   

As of December 31,

2020

   

As of December 31,

2019

 
Net loss before tax per financial statements   $

(7,402,350

)           $ (11,312,500 )        
                                 
Statutory rate    

(1,554,494

)     21.00 %     (2,375,625 )     21.00 %
State tax rate    

(122,139

)     1.65 %     (186,642 )     1.65 %
Permanent items    

(128,636

)     1.74 %     862,623       -7.63 %
Rate change     -       0.00 %     23       0.00 %
Change in valuation allowance    

1,805,268

     

-24,39

%     1,699,621       -15.02 %
    $ -       0.00 %   $ -       0.00 %