XML 39 R29.htm IDEA: XBRL DOCUMENT v3.22.2.2

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2022

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

Income tax expense differed from the expected expense computed by applying the U.S. Federal income tax rate as follows:

 Schedule of Effective Income Tax Rate Reconciliation 

		Nine Months Ended				Three Months Ended
		September 30, 2022				September 30, 2022
Federal income tax benefit at statutory rate		$	(2,733,779	)		$	(845,722	)
State income tax benefit			(719,896	)			(222,707	)
Permanent differences			11,920				3,157
Change in valuation allowance			3,685,697				1,246,403
Research and development tax credit adjustment			(131,681	)			(131,681	)
Other			(112,261	)			(49,450	)
Total income tax expense		$	-			$	-

Schedule of Deferred Tax Assets and Liabilities

 Schedule of Deferred Tax Assets and Liabilities

		September 30, 2022				December 31, 2021
Deferred income tax assets:
Current:
Contingent liability		$	71,550			$	-
Other			-				4,050
Non-current:
Net operating losses			2,616,726				1,201,974
Research and development costs			1,694,249				-
Unvested stock options			172,313				11,835
Research and development tax credits			131,681				-
Patents			104,726				90,480
Other			69,010				49,606
Gross deferred income tax assets			4,860,255				1,357,945
Less: valuation allowance			(4,532,968	)			(847,269	)
Net deferred income tax asset			327,287				510,676
Deferred income tax liabilities:
Current:
Accrual to cash			(3,843	)			(105,075	)
Non-current
Property and equipment			(323,444	)			(405,601	)
Gross deferred income tax liabilities			(327,287	)			(510,676	)
Net deferred tax asset (liability)		$	-			$	-

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 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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types: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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration