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Income taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes

Schedule of components of income taxes

		Year ended December 31,
		2020			2019			2018
Foreign		$	(27,215,385)		$	(25,268,373)		$	(15,713,032)
Domestic			(26,263,427)			(2,791,434)			184,763
Net loss		$	(53,478,812)		$	(28,059,807)		$	(15,528,269)

Summary of reconciliation of the effect of applying federal statutory rate to the net loss and the effective income tax rate

		Year ended December 31,
		2020		2019		2018
Statutory federal income tax rate		21.0	%	21.0	%	21.0	%
Earnings in jurisdictions taxed at rates different from the statutory U.S. federal tax rate		0.2	%	0.4	%	1.0	%
Permanent differences		1.7	%	3.7	%	0.4	%
Changes in valuation allowance		(22.5)	%	(25.1)	%	(16.7)	%
Rate change due to TCJA		—	%	—	%	—	%
Rate change due to Swedish tax reform		—	%	—	%	(5.7)	%
Other		(0.4)	%	—	%	—	%
Effective income tax rate		—	%	—	%	—	%

Summary of significant components of deferred taxes

		December 31,
		2020			2019
Deferred tax assets:
Net operating loss carryforward		$	32,183,004		$	20,536,344
Intangible assets			—			26,842
Stock compensation			1,358,554			—
Accrued expenses			—			17,779
Lease liability			70,192			128,337
Gross deferred tax assets			33,611,750			20,709,302
Valuation allowance			(33,541,533)			(19,676,794)
Total deferred tax assets			70,217			1,032,508
Deferred tax liabilities:
Fixed assets			(1,130)			(1,692)
Stock compensation			—			(908,322)
Right of use asset			(69,087)			(122,494)
Total deferred tax liabilities			(70,217)			(1,032,508)
Net deferred tax assets (liabilities)		$	—		$	—

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h)(1)(i))
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