XML 49 R24.htm IDEA: XBRL DOCUMENT v3.23.1

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

SCHEDULE OF NET DEFERRED TAX ASSETS AND LIABILITIES

The Company’s net deferred tax assets, liabilities and valuation allowance as of December 31, 2022 and 2021 are summarized as follows:

SCHEDULE OF NET DEFERRED TAX ASSETS AND LIABILITIES

		2022				2021
		December 31,
		2022				2021
Deferred tax assets:
Net operating loss carryforwards		$	13,200,000			$	11,100,000
Stock-based compensation			13,810,000				10,500,000
Research and development costs			655,000				-
Research & development tax credits			330,000				358,000
Total deferred tax assets			27,995,000				21,958,000
Deferred tax liabilities:
Depreciation			(106,000	)			-
Intangible assets			(113,000	)			(4,000	)
Total deferred tax liabilities			(219,000	)			(4,000	)
Net deferred tax assets			27,776,000				21,954,000
Valuation allowance		$	(27,776,000	)		$	(21,954,000	)
Deferred tax asset, net of valuation allowance		$	-			$	-
Change in valuation allowance		$	(5,822,000	)		$	(7,856,000	)

SCHEDULE OF INCOME TAX PROVISION (BENEFIT)

The income tax provision (benefit) as of December 31, 2022 and 2021 consists of the following:

SCHEDULE OF INCOME TAX PROVISION (BENEFIT)

		2022				2021
		December 31,
		2022				2021
Federal:
Current		$	-			$	-
Deferred			-				-
State and local:
Current			-				-
Deferred			-				-
Total income tax provision (benefit)		$	-			$	-

SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE

A reconciliation of the statutory federal income tax benefit to actual tax benefit for the years ended December 31, 2022 and 2021 is as follows:

SCHEDULE OF STATUTORY FEDERAL INCOME TAX RATE

		2022				2021
Federal statutory blended income tax rates			21.0	%			21.0	%
State statutory income tax rate, net of federal benefit			5.6				5.6
Permanent differences			(1.8	)			(8.9	)
Tax return to provision adjustment			6.7				-
Change in valuation allowance			(31.5	)			(17.7	)
Effective tax rate			-	%			-	%

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