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Taxes on Income (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income tax expense (benefit) included in the statements of income and comprehensive income

		December 31,
		2021				2020
Current
Federal		$	-			$	-
Foreign			(277,717	)			-
State			-				-
Deferred
Federal			-				-
Foreign			-				-
State			-				-
Total		$	(277,717	)		$	-

Schedule of reconciliation income tax expense

		December 31, 2021
		Amount				Rate
Federal tax at statutory rate
State income taxes, net of federal tax benefit		$	(9,627,366	)			21.00	%
Foreign Taxes			-				0.00	%
Stock Option Compensation			74,132				0.00	%
R&D Credit			-				0.00	%
Change in Valuation Allowance			9,273,396				0.00	%
Tax Return to Tax Provision Adjustment			-				(21.0	%)
Non-Controlling Interest			-				0.00	%
Other			2,121				0.00	%
Total		$	(277,717	)			0.00	%

Schedule of deferred income taxes

		December 31,
		2021				2020
Assets
Net operating loss carryforwards		$	6,244,902				3,261,270
Operating Lease Liability			911,463				-
Accrued Liabilities			88,833				-
Unrealized Loss			714,428				-
Research and Development Credits			-				-
Stock based compensation			4,710,358				-
Disallowed Interest Expense			425,302				-
Amortization			-				-
Other			32,853				-
Total deferred tax assets			13,128,139				3,261,270
Liabilities
Right of Use Asset			934,086				-
Depreciation			(13,311	)			-
Other			-				249,361
Total deferred tax liabilities			920,775				249,361
Valuation allowance			(12,207,364	)			(3,011,909	)
Net deferred tax assets			-				-

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- References

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- 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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

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

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- 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 http://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

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