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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

INCOME TAXES (Tables)

Schedule of income before income tax domestic and foreign

		12/31/2019				12/31/2018
Domestic		$	(2,515,360	)		$	(8,731,677	)
Foreign			(600,790	)			(311,655	)
		$	(3,116,150	)		$	(9,043,332	)

Schedule of provision for income taxes

		12/31/2019				12/31/2018
Current tax provision
Federal		$	-			$	-
State			-				-
Foreign			182,815				17,326
Total current tax provision		$	182,815			$	17,326
Deferred tax provision
Domestic		$	-			$	-
State			-				-
Foreign
Total deferred tax provision		$	-			$	-
Total current provision		$	182,815			$	17,326

Summary of U.S. federal statutory rate

		12/31/2019				12/31/2018
US
Loss before income taxes		$	(3,116,150	)		$	(8,731,677	)
Taxes under statutory US tax rates		$	(654,391	)		$	(1,833,652	)
Increase (decrease) in taxes resulting from:
Increase in valuation allowance		$	1,521,175			$	554,452
Foreign tax rate differential		$	9,028			$	164,394
Permanent differences		$	94,520			$	1,628,906
Purchase price adjustments		$	-			$	25,202
Prior period adjustments		$	(713,466	)		$	(375,828	)
State taxes		$	(74,051	)		$	(146,148	)
Income tax expense		$	182,815			$	17,326

Significant components of deferred tax assets and liabilities

		12/31/2019				12/31/2018
Net operating loss carryforward		$	1,270,650			$	904,877
Capital loss carryforward			801,744				-
Nonqualified stock options			184,545				187,513
Accrued expenses			7,389				-
Depreciation			2,418				1,602
Mark to market adjustment in securities			348,422				-
Total deferred tax assets			2,615,168				1,093,992
Intangibles			(10,729	)			(10,729	)
Goodwill			(14,473	)			(14,473	)
Total deferred tax liabilities			(25,202	)			(25,202	)
Valuation allowance			(2,589,966	)			(1,068,790	)
Net deferred tax assets (liabilities)		$	-			$	-

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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.

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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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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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