XML 38 R27.htm IDEA: XBRL DOCUMENT v3.21.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

INCOME TAXES

Schedule of income before income tax domestic and foreign

		12/31/2020				12/31/2019
Domestic		$	(2,901,276	)		$	(2,515,360	)
Foreign			4,099,597				(600,790	)
		$	1,198,321			$	(3,116,150	)

Schedule of provision for income taxes

		12/31/2020				12/31/2019
Current tax provision
Federal		$	-			$	-
State			-				-
Foreign			555,965				182,815
Total current tax provision		$	555,965			$	182,815
Deferred tax provision
Domestic		$	-			$	-
State			-				-
Foreign			(178,430	)			-
Total deferred tax provision		$	(178,430	)		$	-
Total current provision		$	377,535			$	182,815

Summary of U.S. federal statutory rate

		12/31/2020				12/31/2019
US
Income (loss) before income taxes		$	1,198,321			$	(3,116,150	)
Taxes under statutory US tax rates		$	251,647			$	(654,391	)
Increase (decrease) in taxes resulting from:
Increase in valuation allowance		$	216,518			$	1,521,175
Foreign tax rate differential		$	(55,540	)		$	9,028
Permanent differences		$	(218,216	)		$	94,520
US tax on foreign income		$	604,419			$	-
Prior period adjustments		$	(97,829	)		$	(713,466	)
State taxes		$	(323,464	)		$	(74,051	)
Income tax expense		$	377,535			$	182,815

Significant components of deferred tax assets and liabilities

		12/31/2020				12/31/2019
Net operating loss carryforward		$	1,494,424			$	1,270,650
Capital loss carryforward			801,744				801,744
Nonqualified stock options			170,297				184,545
Accrued expenses			7,389				7,389
Lease liability			247,797				-
Gain on extinguishment of debt			179,958				-
Depreciation			4,226				2,418
Mark to market adjustment in securities			357,829				348,422
Total deferred tax assets			3,263,664				2,615,168
Intangibles			(10,729	)			(10,729	)
Right of use asset			(253,818	)
Goodwill			(14,473	)			(14,473	)
Total deferred tax liabilities			(279,020	)			(25,202	)
Valuation allowance			(2,806,214	)			(2,589,966	)
Net deferred tax assets (liabilities)		$	178,430			$	-

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=84230637&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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=84230637&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration