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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2019
Income Tax Disclosure [Abstract] |
Reconciliation of Income Tax Provision Computed at Statutory Rates | A reconciliation of the income tax provision computed at statutory rates to the reported income tax provision for the years ended December 31, 2019 and 2018 is as follows:
| Year ended December 31, |
| 2019 |  |  | 2018 |
Statutory rate | 21.0% |  |  | 21.0% |
State tax expected (recovery), net of federal benefit | 6.7% |  |  | 2.6% |
Nondeductible expenses | (0.13)% |  |  | (2.9)% |
Loss incurred as pass-through | —% |  |  | (7.9)% |
Change in valuation allowance for deferred tax assets | (27.6)% |  |  | (12.8)% |
Provision for income taxes | (0.04)% |  |  | —% |
Components of Deferred Income Tax Assets and Liabilities | The net change in the valuation allowance was an increase of $12.4 million. The significant components of the Company’s deferred income tax assets and liabilities after applying enacted corporate tax rates are as follows:
| Year ended December 31, |
| 2019 |  |  | 2018 |
Deferred tax assets |  |  |  |  |  |  |
Net operating loss carryforwards | $ | 18,883,686 |  |  | $ | 7,578,570 |
Accrued expenses |  | 796,849 |  |  |  | 735,910 |
Intangibles |  | 355,288 |  |  |  | 290,098 |
Inventory |  | 78,206 |  |  |  | 66,935 |
Deferred rent |  | — |  |  |  | 65,574 |
Charitable contributions |  | 19,028 |  |  |  | 10,602 |
R&D credit |  | 394,981 |  |  |  | — |
Lease liabilities |  | 518,480 |  |  |  | — |
Stock compensation |  | 750,449 |  |  |  | — |
Deferred tax assets |  | 21,796,967 |  |  |  | 8,747,689 |
Less valuation allowance |  | (21,171,967 | ) |  |  | (8,722,389 | )
Total deferred tax assets |  | 625,000 |  |  |  | 25,300 |
Fixed assets |  | (15,222 | ) |  |  | (25,300 | )
Prepaid expenses |  | (220,673 | ) |  |  | — |
Right of use asset |  | (389,105 | ) |  |  | — |
Total deferred tax liabilities |  | (625,000 | ) |  |  | (25,300 | )
Deferred tax assets, net | $ | — |  |  | $ | — |
Components of Loss Before Provision For Income Taxes Domestic and Foreign | Domestic and foreign components of loss before provision for income taxes is as follows:
| December 31, 2019 |  |  | December 31, 2018 |
Domestic | $ | (43,661,897 | ) |  | $ | (55,268,310 | )
Foreign |  | (1,468,287 | ) |  |  | (494,714 | )
Total | $ | (45,130,184 | ) |  | $ | (55,763,024 | )
Schedule of Income Tax Provision From Continuing Operations | The income tax provision from continuing operations contains the following components:
| December 31, 2019 |  |  | December 31, 2018 |
Federal | $ | — |  |  | $ | — |
State | $ | 7,712 |  |  | $ | 2,431 |
Foreign | $ | 9,987 |  |  | $ | — |
Total current |  | 17,699 |  |  |  | 2,431 |
Total deferred |  | — |  |  |  | — |
Total income tax expense/(benefit) | $ | 17,699 |  |  | $ | 2,431 |

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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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