XML 44 R32.htm IDEA: XBRL DOCUMENT
v3.22.4

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Income Tax Disclosure [Abstract] |
Schedule of Components Income Tax Provision | The components of the provision for income taxes consists of the following for the years ended December 31, 2022 and 2021: Schedule of Components Income Tax Provision
|  | 2022 |  |  | 2021 |
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | 563,821 |  |  | $ | 6,092,730 |
State |  |  | (266,248 | ) |  |  | 886,173 |
Total current |  | $ | 297,573 |  |  | $ | 6,978,903 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | (3,945,090 | ) |  |  | 1,394,686 |
State |  |  | (961,468 | ) |  |  | 603,642 |
Total deferred |  |  | (4,906,558 | ) |  |  | 1,998,328 |
Total income tax (benefit) expense |  | $ | (4,608,985 | ) |  | $ | 8,977,231 |
Schedule of Benefit from Income Taxes and Effective Tax Rates | A reconciliation of income tax expense at the statutory federal income tax rate and income taxes as reflected in the financial statements is as follows: Schedule of Benefit from Income Taxes and Effective Tax Rates
|  | 2022 |  |  | 2021 |
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Federal income tax expense at statutory rate |  |  | 21.0 | % |  |  | 21.0 | %
State income tax expense, net of federal tax benefit |  |  | 4.8 | % |  |  | 3.9 | %
Permanent differences: |  |  |  |  |  |  |  |
- Foreign derived intangible income deduction |  |  | 1.4 | % |  |  | -3.5 | %
- Stock based compensation |  |  | -3.6 | % |  |  | 0.2 | %
- Contingent consideration remeasurement |  |  | 8.8 | % |  |  | 0.0 | %
- Goodwill impairment |  |  | -17.1 | % |  |  | 0.0 | %
- Other permanent differences |  |  | -0.6 | % |  |  | 0.3 | %
Research and development credits |  |  | 11.1 | % |  |  | -2.6 | %
Change in uncertain tax positions |  |  | -2.1 | % |  |  | 1.4 | %
Change in valuation allowance |  |  | 0.0 | % |  |  | 0.0 | %
Other |  |  | 0.8 | % |  |  | -1.0 | %
Effective income tax rate |  |  | 24.5 | % |  |  | 19.7 | %
Schedule of Deferred Tax Assets | Net deferred tax liabilities consist of the following components as of December 31, 2022 and 2021: Schedule of Deferred Tax Assets
|  | 2022 |  |  | 2021 |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Deferred tax assets: |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | 98,141 |  |  | $ | - |
Reserves and allowances |  |  | 765,004 |  |  |  | 166,050 |
Deferred compensation |  |  | 566,076 |  |  |  | 393,871 |
Research and development credits |  |  | 3,460,159 |  |  |  | - |
Lease liability |  |  | 85,899 |  |  |  | - |
UNICAP |  |  | 168,936 |  |  |  | - |
Total deferred tax assets |  |  | 5,144,215 |  |  |  | 559,921 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Property and equipment, net |  |  | (609,261 | ) |  |  | (477,542 | )
Intangibles, net |  |  | (6,608,914 | ) |  |  | (6,743,972 | )
Prepaids |  |  | (156,053 | ) |  |  | (560,093 | )
Right of use asset |  |  | (91,873 | ) |  |  | - |
Other comprehensive income |  |  | (96,101 | ) |  |  | - |
Other |  |  | - |  |  |  | (6,758 | )
Total deferred tax liabilities |  |  | (7,562,202 | ) |  |  | (7,788,365 | )
Net deferred tax (liabilities) |  |  | (2,417,987 | ) |  |  | (7,228,444 | )
Less valuation allowance |  |  | - |  |  |  | - |
Net deferred tax (liabilities) |  | $ | (2,417,987 | ) |  | $ | (7,228,444 | )
Schedule of Unrecognized Tax Benefits | Schedule of Unrecognized Tax Benefits
|  | December 31, |
|  | 2022 |  |  | 2021 |
Unrecognized tax benefits at the beginning of the year |  | $ | 1,067,853 |  |  | $ | 447,831 |
Gross increases - current year tax positions |  |  | 1,045,590 |  |  |  | 770,069 |
Gross increases - prior year tax positions |  |  | 34,035 |  |  |  | - |
Gross decreases - prior year tax positions |  |  | (677,901 | ) |  |  | (150,047 | )
Unrecognized tax benefits at end of year |  | $ | 1,469,577 |  |  | $ | 1,067,853 |
Interest and penalties in year-end balance |  | $ | 34,035 |  |  | $ | - |

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 https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 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

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 55 -Paragraph 217 -URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319 + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration