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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Tax (Benefits) are Attributable to Continuing Operations

The components of the provision for income tax (benefits) are attributable to continuing operations as follows:

December 31, 2021

December 31, 2020

December 31, 2019

Current

Federal

$

—

$

—

$

—

State

—

—

—

$

—

$

—

$

—

Deferred

Federal

$

—

$

—

$

—

State

—

—

—

$

—

$

—

$

—

Significant Components of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets and liabilities are as follows:

		December 31, 2021				December 31, 2020
Deferred tax assets:
Net operating loss and tax credit carryforwards		$	72,201,754			$	66,867,637
Capital loss carryforward			5,514				5,683
Accrued expenses			363,149				253,374
Start-up costs			5,664				5,837
Excess of book over tax depreciation			259,667				394,649
Stock option and restricted stock award expense			1,429,488				1,464,210
Debt Extinguishment			58,161				59,934
Less: valuation allowance			(74,138,667	)			(68,859,984	)
		$	184,730			$	191,340
Deferred tax liability:
Property and equipment basis		$	10,434			$	48,545
Prepaid expenses			174,296				142,795
		$	184,730			$	191,340
Net deferred tax asset		$	—			$	—

Schedule of Change in Valuation Allowance

The change in the valuation allowance is as follows:

December 31, 2021		$	74,138,667
December 31, 2020			68,859,984
Change in valuation allowance		$	5,278,683

Schedule of Federal and State income Tax Provision (Benefit)

The federal and state income tax provision (benefit) is summarized as follows for the years ended:

		December 31, 2021				December 31, 2020				December 31, 2019
Expected (benefit)		$	(3,386,834	)		$	(4,429,419	)		$	(3,254,942	)
Effects of:
State income taxes net of federal benefits			(570,116	)			(940,302	)			(156,858	)
Nondeductible expense			(56,839	)			150,238				262,776
Subpart F Income			735,229				345,006				—
Debt Extinguishment			—				91,266				—
Funder Loan Proceeds			—				2,482,252				—
Change in valuation allowance			6,229,371				4,815,784				5,170,161
Foreign Rate Differential			(2,950,811	)			(2,514,825	)			(2,021,137	)
		$	—			$	—			$	—

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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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.

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-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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.

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-Publisher FASB
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-SubTopic 10
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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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