v3.21.1

Income Taxes | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Income Taxes | Note 14 – Income Taxes Successor The Company has accumulated net losses and has not recorded an income tax provision or benefit for the United States (U.S.) federal and state income taxes during the year ended December 31, 2020 and for period from October 4, 2019 through December 31, 2019.
|  | For the Year Ended |  | October 4, 2019 |
|  | December 30, |  | through |
|  | 2020 |  | December 31, 2019 |
Statutory federal income tax rate |  | 21.0 | % | 21.0 | %
State income taxes, net of federal taxes |  | 3.6 | % | 3.5 | %
Non-controlling interest |  | 0.0 | % | 1.4 | %
Other permanent items |  | (0.2) | % | (0.5) | %
Change in valuation allowance |  | (24.4) | % | (25.4) | %
Income taxes provision (benefit) |  | 0.0 | % | 0.0 | %
Net deferred tax assets consist of the following components:
|  | December 31,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |
Net operating loss carryforwards |  | 1,334,445 |  | 663,177
Stock-based compensation |  | 141,914 |  | 65,597
Amortization |  | 973 |  | —
Passthrough entity |  | 178,676 |  | —
Other |  | 45 |  | —
Total deferred income tax assets |  | 1,656,053 |  | 728,774
Deferred tax liabilities: |  |  |  |
Depreciation |  | — |  | —
|  | — |  | —
Valuation allowance |  | (1,656,053) |  | (728,774)
Deferred tax asset, net of allowance |  | — |  | —
As of each reporting date, the Company considers existing evidence, both positive and negative, that could impact its view with regard to future realization of deferred tax assets. The Company believes that it is more likely than not that the benefit for deferred tax assets will not be realized. In recognition of this uncertainty, a full valuation allowance was applied to the deferred tax assets. The Company did not record a tax provision for the year ended December 31, 2020 and for the period October 4, 2019 through December 31, 2019, due to the Company's estimate that the effective tax rate for each year is 0%. Future realization depends on the Company's future earnings, if any, the timing and amount of which are uncertain as of December 31, 2020. In the future, should management conclude that it is more likely than not that the deferred tax assets are partially or fully realizable, the valuation allowance would be reduced to the extent of such expected realization and the amount would be recognized as a deferred income tax benefit in the Company's consolidated statements of operations. At December 31, 2020 and 2019, the Company had net operating loss carryforwards of approximately $5.6 million and $2.8 million. Federal net operating losses of approximately $5.6 million carryforward indefinitely. State operating loss carryforwards of approximately $5.4 million carry forward indefinitely. Pursuant to Section 382 of the Internal Revenue Code of 1986, as amended, a portion of the Company’s federal and state net operating loss carryforwards may be limited due to ownership changes that occurred previously or that could occur in the future. These ownership changes may limit the amount of carryforwards that can be utilized annually to offset future taxable income. Due to the existence of the valuation allowance, limitations created by the ownership changes will not impact the Company’s effective tax rate. All tax years remain subject to examination by major taxing jurisdictions. There have been no material income tax related interest or penalties assessed or recorded during the year ended December 31, 2020 and period October 4, 2019 through December 31, 2019. No liability related to uncertain tax positions is reported in the Company's consolidated financial statements. Predecessor Prior to the Business Combination, the Company was a Subchapter S pass-through entity for income tax purposes. Accordingly, the Company not subject to income taxes prior to the acquisition and therefore there is no tax provision related to the income.

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32857-109319 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 11.C) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330215-122817 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 17 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 6.I.5.Q1) -URI http://asc.fasb.org/extlink&oid=116825942&loc=d3e330036-122817 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32705-109319 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 270 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331 + Details
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