XML 68 R61.htm IDEA: XBRL DOCUMENT
v3.21.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income Taxes | The components of the (provision) benefit for income taxes consist of the following: Schedule of Income Taxes
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |
Current tax benefit: |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | - |
State and local |  |  | - |  |  |  | - |
Total current tax benefit |  |  | - |  |  |  | - |
Deferred tax (provision) benefit: |  |  |  |  |  |  |  |
Federal |  |  | 20,677,960 |  |  |  | 9,802,070 |
State and local |  |  | 5,279,879 |  |  |  | 3,053,709 |
Change in valuation allowance |  |  | (26,168,671 | ) |  |  | 6,685,348 |
Total deferred tax (provision) benefit |  |  | (210,832 | ) |  |  | 19,541,127 |
Total income tax (provision) benefit |  | $ | (210,832 | ) |  | $ | 19,541,127 |
Schedule of Components of Deferred Tax Assets and Liabilities | The components of deferred tax assets and liabilities were as follows: Schedule of Components of Deferred Tax Assets and Liabilities
|  | As of December 31, |
|  | 2020 |  |  | 2019 |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 35,535,941 |  |  | $ | 20,998,172 |
Tax credit carryforwards |  |  | 263,873 |  |  |  | 263,873 |
Allowance for doubtful accounts |  |  | 458,506 |  |  |  | 450,116 |
Accrued expenses and other |  |  | 677,909 |  |  |  | 64,494 |
Liquidated damages |  |  | 1,549,313 |  |  |  | 1,078,235 |
Unearned revenue |  |  | 2,356,111 |  |  |  | - |
Stock-based compensation |  |  | 2,158,080 |  |  |  | 1,055,083 |
Operating lease liability |  |  | 691,228 |  |  |  | 223,596 |
Depreciation and amortization |  |  | 4,341,983 |  |  |  | 3,921,952 |
Deferred tax assets |  |  | 48,032,944 |  |  |  | 28,055,521 |
Valuation allowance |  |  | (29,653,417 | ) |  |  | (3,484,746 | )
Total deferred tax assets |  |  | 18,379,527 |  |  |  | 24,570,775 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Prepaid expenses |  |  | (144,704 | ) |  |  | (148,051 | )
Unearned revenue |  |  | - |  |  |  | (67,295 | )
Acquisition-related intangibles |  |  | (18,445,655 | ) |  |  | (24,355,429 | )
Total deferred tax liabilities |  |  | (18,590,359 | ) |  |  | (24,570,775 | )
Net deferred tax liabilities |  | $ | (210,832 | ) |  | $ | - |
Schedule of Tax Benefit and Effective Income Tax | The provision (benefit) for income taxes on the statement of operations differs from the amount computed by applying the statutory federal income tax rate to loss before the benefit for income taxes, as follows: Schedule of Tax Benefit and Effective Income Tax
|  | Years Ended December 31, |
|  | 2020 |  |  | 2019 |
|  | Amount |  |  | Percent |  |  | Amount |  |  | Percent |
Federal benefit expected at statutory rate |  | $ | (18,694,437 | ) |  |  | 21.0 | % |  | $ | (12,188,924 | ) |  |  | 21.0 | %
State and local taxes, net of federal benefit |  |  | (5,279,879 | ) |  |  | 5.9 | % |  |  | (3,053,709 | ) |  |  | 5.3 | %
Stock-based compensation |  |  | 1,768,735 |  |  |  | (2.0 | )% |  |  | 1,591,202 |  |  |  | (2.7 | )%
Unearned revenue |  |  | (5,120,330 | ) |  |  | 5.8 | % |  |  | (1,969,056 | ) |  |  | 3.4 | %
Interest expense |  |  | 1,173,535 |  |  |  | (1.3 | )% |  |  | 1,015,199 |  |  |  | (1.7 | )%
Other differences, net |  |  | 152,294 |  |  |  | (0.2 | )% |  |  | 199,643 |  |  |  | (0.4 | )%
Valuation allowance |  |  | 26,168,671 |  |  |  | (29.4 | )% |  |  | (6,685,348 | ) |  |  | 11.5 | %
Other permanent differences |  |  | 42,243 |  |  |  | 0.0 | % |  |  | 1,549,866 |  |  |  | (2.7 | )%
Tax provision (benefit) and effective income tax rate |  | $ | 210,832 |  |  |  | (0.2 | )% |  | $ | (19,541,127 | ) |  |  | 33.7 | %

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration