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INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
SCHEDULE OF COMPONENTS OF INCOME TAX PROVISION (BENEFIT)

The components of income tax provision (benefit) for the years ended December 31, 2021, and 2020 are as follows:

 

    2021    2020 
Current taxes:          
Federal  $—   $— 
State   —    — 
           
Total current taxes   —    — 
Deferred tax provision (benefit)   —    — 
           
Income tax provision (benefit)  $—   $— 
SCHEDULE OF RECONCILIATION OF INCOME TAX (PROVISION) BENEFIT

A reconciliation of the income tax (provision) benefit at the statutory rate of 21% for the years ended December 31, 2021, and 2020 to the Company’s effective tax rate is as follows:

 

   2021   2020 
U.S. Statutory tax rate   21.0%   21.0%
State taxes, net of Federal benefit   5.1%   5.1%
Stock based compensation   (0.9)%   (1.9)%
Change in valuation reserve on deferred tax assets   (26.7)%   (32.6)%
Forgiveness of Payroll Protection Plan loan   —%   11.3%
Other, net   (0.3)%   (2.9)%
           
Income tax (provision) benefit   —%   —%
SCHEDULE OF SIGNIFICANT COMPONENTS OF COMPANY'S DEFERRED TAX ASSETS (LIABILITIES)

Significant components of the Company’s deferred tax assets (liabilities) as of December 31, 2021 and 2020 are as follows:

 

   2021   2020 
Deferred tax assets:          
Stock-based compensation  $705,000   $765,000 
Start-up costs   115,000    115,000 
Inventory reserves   875,000    510,000 
Uniform capitalization of inventory costs   85,000    85,000 
Allowance for doubtful accounts receivable   30,000    35,000 
Property, plant and equipment depreciation   285,000    255,000 
Deferred revenue   1,135,000    915,000 
Accrued litigation reserve   65,000    65,000 
Accrued expenses   35,000    55,000 
Net operating loss carryforward   21,240,000    19,855,000 
Research and development tax credit carryforward   1,795,000    1,795,000 
State jobs credit carryforward   230,000    230,000 
Charitable contributions carryforward   100,000    60,000 
           
Total deferred tax assets   26,695,000    24,740,000 
Valuation reserve   (16,980,000)   (24,595,000)
           
Total deferred tax assets   9,715,000    145,000 
Deferred tax liabilities:          
Warrant derivative liabilities   

(9,495,000

)   

—

 
Intangible assets   

(75,000

)   

—

 
Domestic international sales company   (145,000)   (145,000)
           
Total deferred tax liabilities   (9,715,000)   (145,000)
           
Net deferred tax assets (liability)  $—   $—