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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2021
Income Tax Disclosure [Abstract] |
Schedule of deferred tax assets and liabilities, net | The components of the Company's net deferred tax assets at December 31 are as follows:
|  | 2021 |  | 2020
Deferred Tax Assets |  |  |  |
Net operating loss and tax credits |  | $ | 16,817,070 |  |  | $ | 16,961,650 |
Property and equipment and intangibles |  | 222,893 |  |  | 227,056 |
Allowance for accounts receivable |  | 83,931 |  |  | 249,483 |
Reserve for expired product |  | 457,723 |  |  | 438,235 |
Inventory |  | 104,824 |  |  | 100,362 |
Deferred charges |  | 1,303,664 |  |  | 952,711 |
Cumulative compensation costs incurred on deductible equity awards |  | 834,070 |  |  | 928,638 |
Total deferred tax assets |  | 19,824,175 |  |  | 19,858,135 |
Deferred Tax Liabilities |  |  |  |
Intangible assets |  | (62,253) |  |  | (662,014) |
Net deferred tax assets, before valuation allowance |  | 19,761,922 |  |  | 19,196,121 |
Less: deferred tax asset valuation allowance |  | (19,761,922) |  |  | (19,196,121) |
Net deferred tax assets |  | $ | — |  |  | $ | — |
Schedule of federal and state net operating loss carryforwards | The following table summarizes the amount and year of expiration of the Company's federal and state net operating loss carryforwards as of December 31, 2021:
Years of expiration |  | Federal |  | State
2022 |  | $ | — |  |  | $ | — |
2023 - 2029 |  | — |  |  | 49,253,796 |
2030 |  | 44,153,819 |  |  | 355,874 |
2031 - 2039 |  | 7,534,351 |  |  | 9,822,440 |
Indefinite Period |  | 4,345,272 |  |  | 279,025 |
Total federal and state net operating loss carryforwards |  | $ | 56,033,442 |  |  | $ | 59,711,135 |
Schedule of the components of income tax benefit (expense) | Income tax (expense) benefit includes the following components for the years ended December 31:
|  | 2021 |  | 2020 |  | 2019
Current: |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | 21,802 |  |  | $ | 65,408 |
State and other |  | 34,891 |  |  | (55,902) |  |  | 79,316 |
Total current income tax (expense) benefit |  | 34,891 |  |  | (34,100) |  |  | 144,724 |
Deferred: |  |  |  |  |  |
Federal |  | 61,678 |  |  | (21,802) |  |  | (65,408) |
State |  | (61,678) |  |  | — |  |  | — |
Total deferred income tax (expense) benefit |  | — |  |  | (21,802) |  |  | (65,408) |
Total income tax (expense) benefit |  | $ | 34,891 |  |  | $ | (55,902) |  |  | $ | 79,316 |
Schedule of effective tax rate reconciliation | The Company’s effective income tax rate for 2021, 2020 and 2019 reconciles with the federal statutory tax rate as follows:
|  | 2021 |  | 2020 |  | 2019
Federal tax expense at statutory rate |  | 21 | % |  | 21 | % |  | 21 | %
State income tax expense (net of federal income tax benefit) |  | 1 | % |  | 4 | % |  | 4 | %
Permanent differences associated with general business credits |  | — | % |  | 6 | % |  | 7 | %
Change in valuation allowance |  | (19) | % |  | (23) | % |  | (31) | %
Other permanent differences |  | (4) | % |  | (7) | % |  | 1 | %
Other |  | — | % |  | (3) | % |  | — | %
Net income tax expense |  | (1) | % |  | (2) | % |  | 2 | %
Summary of tax credit carryforwards | As of December 31, 2021, the Company has general business credit carryforwards of $1.7 million. These credit carryforwards will expire in years 2022 through 2041.
Years of expiration |  | Federal
2022 |  | $ | 161,119 |
2023-2029 |  | 461,157 |
2030-2039 |  | 648,120 |
2040-2041 |  | 410,709 |
Total federal and state credit carryforwards |  | $ | 1,681,105 |

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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=121826272&loc=d3e32639-109319 + Details
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- 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
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