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Income Taxes
6 Months Ended
Jun. 30, 2020
Income Tax Disclosure [Abstract]  
INCOME TAXES

10. INCOME TAXES

 

As of June 30, 2020, the Company had federal net operating loss carryforwards ("NOL") of approximately $66,900,000 and state net operating loss carryforwards of approximately $6,000,000 available to offset future taxable income which expire from 2024 to 2037. NOL's created after January 1, 2018 do not expire, but are limited.

 

Management believes that the federal and state deferred tax asset as of June 30, 2020 does not satisfy the realization criteria and has recorded a full valuation allowance to offset the deferred tax asset.