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INCOME TAXES | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
INCOME TAXES | NOTE 13 - INCOME TAXES Income tax expense differs from the statutory amounts for each of the following years: SCHEDULE OF INCOME TAX EXPENSE
|  | 2021 |  |  | 2020 |
|  | For the years ended December 31, |
|  | 2021 |  |  | 2020 |
Income taxes at U.S. statutory rate |  | $ | (17,836,000 | ) |  | $ | (17,689,000 | )
Current year reserve |  |  | 12,539,000 |  |  |  | 12,020,000 |
Expenses not deductible |  |  | 5,297,000 |  |  |  | 5,669,000 |
Total tax expense |  | $ | - |  |  | $ | - |
Deferred taxes are provided for the temporary differences between the financial reporting bases and the tax bases of our assets and liabilities. The temporary differences that give rise to deferred tax assets and liabilities were as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES
|  | December 31, 2021 |  |  | December 31, 2020 |
Deferred tax assets (liabilities): |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 71,001,000 |  |  | $ | 61,062,000 |
General business credit carryforwards |  |  | 4,741,000 |  |  |  | 4,398,000 |
State credits |  |  | 2,780,000 |  |  |  | 2,857,000 |
Property, equipment and goodwill |  |  | 200,000 |  |  |  | 8,000 |
Stock options |  |  | 10,537,000 |  |  |  | 9,551,000 |
Deferred revenue |  |  | 62,000 |  |  |  | 62,000 |
Intangible assets |  |  | 367,000 |  |  |  | 312,000 |
Other |  |  | 16,000 |  |  |  | 70,000 |
Gross deferred tax assets |  |  | 89,704,000 |  |  |  | 78,320,000 |
Valuation allowance |  |  | (89,704,000 | ) |  |  | (78,320,000 | )
Net deferred taxes |  | $ | - |  |  | $ | - |
As of December 31, 2021, we had approximately $338.1 million of net operating loss carryforwards and approximately $4.7 million of general business credit carryforwards. These carryforwards expire as follows: SUMMARY OF NET OPERATING LOSS AND GENERAL BUSINESS CREDIT CARRYFORWARDS
|  | Net operating loss carryforwards |  |  | General business credit carryforwards |
2022 |  | $ | 8,230,000 |  |  | $ | 431,000 |
2023 |  |  | 5,434,000 |  |  |  | 362,000 |
2024 |  |  | 8,711,000 |  |  |  | 287,000 |
2025 |  |  | 2,370,000 |  |  |  | 182,000 |
2026 |  |  | 7,160,000 |  |  |  | 72,000 |
Thereafter |  |  | 90,416,000 |  |  |  | 3,407,000 |
|  | $ | 122,321,000 |  |  | $ | 4,741,000 |
As of December 31, 2021, we had approximately $215.8 million of net operating loss carryforwards that do not expire and can be carried forward indefinitely. Such net operating loss carryforwards can only be used to offset 80% of taxable income in any given tax year. In addition, our net operating loss carryforwards may be subject to limitation due to ownership changes. We acquired MacroChem Corporation on March 25, 2009 and Somanta Pharmaceuticals, Inc. on January 4, 2008. Both of these corporations were loss-making entities at the time of acquisition. As a result, the net operating losses related to those acquisitions may be subject to annual limitations.

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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=121826272&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=122134291&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=121826272&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=122134291&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=121826272&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 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(2)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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