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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of deferred tax assets

Significant components of the Company's deferred tax assets are as follows:

		2020				2019
Deferred tax asset:
Allowance for doubtful accts		$	359,598			$	163,123
UNICAP			9,904				16,314
Obsolete inventory			2,811				41,131
Reserves			—				1,641,874
Warrant liability			—				2,330
Accrued compensation			138,283				89,089
Credit carryforwards			142,484				142,484
Stock compensation			880,766				430,274
Fixed assets, net			483,923				1,278,863
Contribution, carryforward			70				62
Accrued interest expense			68,148				22,414
Net operating loss carryforwards			5,912,511				11,602,532
Lease liability			798,047				899,722
Credit loss			559,593				995,184
Accrued expenses			461,973
Excess of capital losses over capital gains			123,297
Total deferred tax asset			9,941,408				17,325,396
Deferred tax liability:
ROU assets			(756,204	)			(870,886	)
Intangible assets, net			(160,318	)			(209,044	)
State taxes			(1,119	)			—
Total deferred income tax liabilities			(917,641	)			(1,079,930	)
Net deferred income tax assets			9,023,766				16,245,466
Valuation allowance			(9,037,861	)			(16,308,197	)
Deferred tax asset (liability), net		$	(14,095	)		$	(62,731	)

Schedule of net income tax benefit

The net income tax benefit consists of the following:

		2020				2019
Current
US Federal		$	—			$	—
US State			—				—
Foreign			24,842				—
Total current provision			24,842				—
Deferred
US Federal			—				—
US State			—				—
Foreign			(48,636	)			(108,293	)
Total deferred benefit			(23,794	)			(108,293	)
Total provision for income taxes		$	(23,794	)		$	(108,293	)

Schedule of reconciliation of income tax attributable to operations

The reconciliation of income tax attributable to operations computed at U.S. Federal statutory income tax rates of 21% to income tax expense is as follows:

		2020				2019
Expected federal income tax benefit			21.0	%			21.0	%
Beneficial conversion feature			(0.1	%)			(0.6	%)
Deconsolidation of I.AM			1.5	%
Loss on extinguishment of debt			(9.8	%)
State taxes net of federal benefit			8.1	%			3.5	%
Foreign rate differential			(0.3	%)			(0.2	%)
Section 382 limitation			(34.7	%)			—
Return to provision adjustment			(7.8	%)
Effect of change in valuation allowance			21.1	%			(21.9	%)
Other			1.1	%			(1.4	%)
Income tax benefit			0.1	%			0.4	%

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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
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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.

+ 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

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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.

+ 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
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