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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of provision for income taxes

		December 31,
		2020				2019
Current
Federal		$	-			$	(151,597	)
State and local			387				10,004
Total Current			387				(141,593	)
Deferred
Federal			-				-
State and local			-				-
Total Deferred			-				-
Total Provision (Benefit)		$	387			$	(141,593	)

Schedule of company’s deferred tax assets and liabilities

		December 31,
		2020				2019
Deferred Tax Assets:
Net operating losses		$	4,098,329			$	4,265,150
Share-based compensation			859,100				989,763
Amortization of Intangible Assets			769,742				1,056,162
Rent			15,272				168,036
Tax Credits			62,969				62,969
Other			160,762				72,032
Subtotal			5,966,174				6,614,116
Less Valuation Allowance:			(5,903,825	)			(6,349,900	)
Total Deferred Tax Assets			62,349				264,216
Deferred Tax Liabilities:
Property and equipment			(62,349	)			(264,216	)
Total Deferred Tax Liabilities			(62,349	)			(264,216	)
Net Deferred Tax Assets		$	-			$	-

Schedule of effective tax rate differs from the U.S. federal statutory income tax rate

		2020				2019
Federal statutory rate			21.0	%			21.0	%
Permanent differences			0.2	%			(6.7	)%
State and local taxes			1.9	%			(0.2	)%
Valuation allowance			(37.0	)%			(0.1	)%
Deferred tax adjustment			0.0	%			(9.9	)%
Share based compensation			14.6	%			(2.7	)%
Other			(0.6	)%			0.1	%
Effective tax rate			0.1	%			1.6	%

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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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