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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of Income Tax (Provision) Benefit | The income tax (provision) benefit for the periods shown consist of the following:
|  | 2020 |  |  | 2019 |
Current |  |  |  |  |  |  |  |
US Federal |  | $ | - |  |  | $ | - |
US State |  |  | - |  |  |  | - |
Total current provision |  |  | - |  |  |  | - |
Deferred |  |  |  |  |  |  |  |
US Federal |  |  | 2,678,176 |  |  |  | 1,965,258 |
US State |  |  | 630,916 |  |  |  | 462,969 |
Total deferred benefit |  |  | 3,309,092 |  |  |  | 2,428,227 |
Change in valuation allowance |  |  | (3,309,092 | ) |  |  | (2,428,227 | )
Income tax (provision) benefit |  | $ | - |  |  | $ | - |
Schedule of Reconciliation of Income Tax | The reconciliation of income tax expense computed at the U.S. federal statutory rate of 21% to the income tax provision for the years ended March 31, 2020 and 2020 is as follows:
|  | 2020 |  |  | 2019 |
Computed tax expense |  | $ | (3,056,903) |  |  | $ | (2,458,977) |
State taxes, net of Federal income tax benefit |  |  | (684,164) |  |  |  | (550,342) |
Change in valuation allowance |  |  | 3,309,092 |  |  |  | 2,428,227 |
Employee stock awards |  |  | 231,692 |  |  |  | 301,454 |
Stock grants |  |  | 137,477 |  |  |  | 180,679 |
Stock for services |  |  | 90,541 |  |  |  | 5,744 |
Rent expense |  |  | 13,358 |  |  |  | - |
Non-deductible meals & entertainment |  |  | 7,833 |  |  |  | 1,003 |
Stock and warrants on note conversion |  |  | - |  |  |  | 92,212 |
Contingent consideration fair value |  |  | (48,926) |  |  |  | - |
Total provision for income taxes |  | $ | - |  |  | $ | - |
Schedule of Deferred Tax Assets and Liabilities | Significant components of the Company’s deferred tax liabilities and assets at March 31, 2020 and March 31, 2019 are as follows:
|  | 2020 |  |  | 2019 |
Deferred tax assets |  |  |  |  |  |  |  |
Net operating loss carryforward |  | $ | 7,571,092 |  |  | $ | 3,950,078 |
Loss on purchase |  |  | 544,366 |  |  |  | 544,366 |
Other |  |  | 211,158 |  |  |  | 2,629 |
Total deferred tax assets |  | $ | 8,326,616 |  |  | $ | 4,497,073 |
Deferred tax liabilities |  |  |  |  |  |  |  |
Depreciation expense |  | $ | (1,059,771 | ) |  | $ | (512,945 | )
Other |  |  | - |  |  |  | (26,376 | )
Total deferred tax liabilities |  | $ | (1,059,771 | ) |  | $ | (539,321 | )
Net deferred tax assets |  | $ | 7,266,845 |  |  | $ | 3,957,752 |
Valuation allowance |  |  | (7,266,845 | ) |  |  | (3,957,752 | )
|  | $ | - |  |  | $ | - |

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- 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=84230637&loc=d3e32639-109319 + Details
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- 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=84230637&loc=d3e32537-109319 + Details
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