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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

INCOME TAXES

Schedule of Deferred Tax Assets and Liabilities


		For the Years Ended
		December 31,
		2022		2021
Deferred Tax Assets
Net Operating Loss Carryforward		30,072,000		29,087,000
Stock Compensation		5,642,000		5,599,000
Accrued Expenses		—		510,000
License Agreement		—		127,000
Capitalized R&E		4,818,000		—
Research and Development		733,000		733,000
Charitable Contributions		—		8,000
Operating Lease Liability		1,611,000		2,514,000
		42,876,000		38,578,000
Less: Valuation Allowance		(41,413,000)		(36,401,000)
Total Deferred Tax Assets		1,463,000		2,177,000

Deferred Tax Liabilities
Fixed Assets		(304,000)		(94,000)
Right-of-Use Assets		(1,159,000)		(2,083,000)
Total Deferred Tax Liabilities		(1,463,000)		(2,177,000)

Net Deferred Tax Assets/(Liabilities)		—		—

Summary Of Expected Tax Expense Benefit Based On Federal Statutory Rates Reconciled With Actual Tax Provision Benefit


		For the Years Ended December 31,
		2022				2021
				Percent of				Percent of
		Amount		Pretax Loss		Amount		Pretax Loss
U.S. federal statutory rate		(6,285,000)		21.00	%	(8,795,000)		21.00	%
State taxes, net of federal benefit		(44,000)		0.15	%	(48,000)		0.11	%
Tax rate change		10,000		-0.03	%	(291,000)		0.69	%
Permanent Differences
- Other permanent differences		288,000		-0.96	%	262,000		-0.63	%
Change in valuation allowance		5,012,000		-16.75	%	8,769,000		-20.94	%
Deferred true-up		1,019,000		-3.40	%	103,000		-0.25	%
Income tax provision/(benefit)		—		0.00	%	—		0.00	%