XML 50 R37.htm IDEA: XBRL DOCUMENT
v3.22.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of Pre-tax Income (Loss) | For the years ended December 31, 2021 and 2020, pre-tax income (loss) was attributed to the following jurisdictions:
|  | For the Years Ended December 31, |
|  | 2021 |  |  | 2020 |
Domestic operations |  | $ | 1,248,943 |  |  | $ | (760,603 | )
Foreign operations |  |  | 1,689,505 |  |  |  | 150,315 |
|  | $ | 2,938,448 |  |  | $ | (610,288 | )
Schedule of Provision (Benefit) for Income Taxes | Set forth below is the provision (benefit) for income taxes for the years ended December 31:
|  | For the Years Ended December 31, |
|  | 2021 |  |  | 2020 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | (26,951 | )
State |  |  | 2,763 |  |  |  | 16,058 |
International |  |  | 548,062 |  |  |  | 149,958 |
|  |  | 550,825 |  |  |  | 139,065 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | (81,341 | ) |  |  | (563,107 | )
State |  |  | 136,191 |  |  |  | (180,059 | )
International |  |  | - |  |  |  | 357 |
|  |  | 54,850 |  |  |  | (742,809 | )
Total provision (benefit) for income taxes |  | $ | 605,675 |  |  | $ | (603,744 | )
Schedule of Reconciliation of Provision (Benefit) for Income Taxes Computed at Federal Statutory Rates Provision (Benefit) for Income Taxes | The reconciliation of the provision (benefit) for income taxes computed at federal statutory rates to the provision (benefit) for income taxes for the years ended December 31, 2021 and 2020, are as follows:
|  | For the Years Ended December 31, |
|  | 2021 |  |  | 2020 |
Provision at federal statutory rates (21% applied to earnings before income taxes) |  | $ | 617,074 |  |  | $ | (128,161 | )
State income taxes, net of federal benefit |  |  | (105 | ) |  |  | 7,685 |
Other permanent items |  |  | (60,997 | ) |  |  | (164,300 | )
PPP loan forgiveness |  |  | (318,014 | ) |  |  | - |
Stock based compensation |  |  | (399,635 | ) |  |  | (178,552 | )
Research and development credits |  |  | (247,264 | ) |  |  | (364,843 | )
Amortization of intangibles |  |  | 112,007 |  |  |  | 132,934 |
Change in reserve for uncertain tax positions |  |  | 771,672 |  |  |  | 48,492 |
Other |  |  | 130,937 |  |  |  | 43,001 |
|  | $ | 605,675 |  |  | $ | (603,744 | )
Schedule of Components of Deferred Taxes | Significant components of deferred taxes as of December 31, 2021 and 2020, were as follows:
|  | For the Years Ended December 31, |
|  | 2021 |  |  | 2020 |
Deferred tax assets: |  |  |  |  |  |  |  |
Reserves |  | $ | 51,147 |  |  | $ | 23,735 |
Deferred compensation |  |  | 246,542 |  |  |  | 166,740 |
Stock compensation |  |  | 238,310 |  |  |  | 183,742 |
Deferred revenue |  |  | 64,232 |  |  |  | 132,814 |
Inventories |  |  | 184,802 |  |  |  | 212,226 |
Credits and loss carryforward |  |  | 4,202,769 |  |  |  | 4,314,653 |
Total deferred tax assets before valuation allowance |  |  | 4,987,802 |  |  |  | 5,033,910 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment |  |  | (300,758 | ) |  |  | (229,042 | )
Intangible assets |  |  | (593,254 | ) |  |  | (602,277 | )
Other |  |  | (303,271 | ) |  |  | (327,288 | )
Total deferred tax liabilities |  |  | (1,197,283 | ) |  |  | (1,158,607 | )
Net deferred tax assets before valuation allowance |  |  | 3,790,519 |  |  |  | 3,875,303 |
Valuation allowance |  |  | (149,487 | ) |  |  | (176,710 | )
Net deferred tax assets |  | $ | 3,641,032 |  |  | $ | 3,698,593 |
Schedule of Reconciliation Beginning and Ending Amount of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
Unrecognized tax benefits balance on December 31, 2019 |  | $ | 317,236 |
Gross increases for tax positions of the current year |  |  | 54,452 |
Unrecognized tax benefits balance on December 31, 2020 |  |  | 371,688 |
Gross increases for tax positions of the prior year |  |  | 762,124 |
Gross increases for tax positions of the current year |  |  | 108,905 |
Unrecognized tax benefits balance on December 31, 2021 |  | $ | 1,242,717 |

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

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI http://asc.fasb.org/extlink&oid=124434304&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration