Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of components of income (loss) before the income tax provision (benefit) |
|
|
|
Year Ended
December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
United States
|
|
$ |
(6,556,280 |
) |
|
$ |
1,120,521 |
|
|
Foreign
|
|
|
(2,819 |
) |
|
|
(67,096 |
) |
|
Pre-tax (loss) income from operations
|
|
$ |
(6,559,099 |
) |
|
$ |
1,053,425 |
|
|
| Schedule for significant portions of deferred income tax assets |
|
|
|
As of December 31,
|
|
|
Current deferred tax assets/(liabilities):
|
|
2020
|
|
|
2019
|
|
|
State taxes
|
|
$ |
336 |
|
|
$ |
336 |
|
|
Amortization
|
|
|
180 |
|
|
|
— |
|
|
Research and development credits
|
|
|
54,324 |
|
|
|
— |
|
|
Other
|
|
|
83,056 |
|
|
|
112,222 |
|
|
Net operating loss
|
|
|
7,679,216 |
|
|
|
6,434,544 |
|
|
Gross deferred tax assets
|
|
|
7,817,112 |
|
|
|
6,547,102 |
|
|
Valuation allowance
|
|
|
(7,590,215 |
) |
|
|
(6,206,450 |
) |
|
Net deferred tax assets
|
|
$ |
226,897 |
|
|
$ |
340,652 |
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities
|
|
|
|
|
|
|
|
|
|
Note discount
|
|
$ |
(226,897 |
) |
|
$ |
(340,652 |
|
|
Total deferred tax liabilities
|
|
|
(226,897 |
) |
|
|
(340,652 |
|
|
Net deferred tax assets
|
|
$ |
— |
|
|
$ |
— |
|
|
| Schedule of provision for income taxes on earnings subject to income taxes differs from the statutory Federal rate |
|
|
|
As of December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
Expected income tax benefit at federal statutory tax rate
|
|
$ |
(1,377,411 |
) |
|
$ |
221,219 |
|
|
State income taxes, net of federal benefit
|
|
|
(415,249 |
) |
|
|
(434,881 |
) |
|
Change in fair value of warrants
|
|
|
(72,549 |
) |
|
|
(1,874,873 |
) |
|
Change in valuation allowance
|
|
|
1,383,765 |
|
|
|
1,469,187 |
|
|
Uncertain tax positions
|
|
|
470,838 |
|
|
|
436,145 |
|
|
Change in compound derivative
|
|
|
— |
|
|
|
(101,671 |
) |
|
Loss on extinguishment of debt
|
|
|
33,925 |
|
|
|
117,198 |
|
|
Stock compensation
|
|
|
64,273 |
|
|
|
121,289 |
|
|
Rate adjustment
|
|
|
(108,649 |
) |
|
|
49,338 |
|
|
Other permanent difference
|
|
|
22,657 |
|
|
|
(1,351 |
) |
|
Provision for income taxes
|
|
$ |
1,600 |
|
|
$ |
1,600 |
|
|
| Schedule of reconciliation of beginning and ending amounts of unrecognized tax positions |
|
|
|
As of December 31,
|
|
|
|
|
2020
|
|
|
2019
|
|
|
Unrecognized tax positions, beginning of the year
|
|
$ |
552,082 |
|
|
$ |
— |
|
|
Gross increase - current period tax positions
|
|
|
585,812 |
|
|
|
552,082 |
|
|
Gross decrease – prior period tax positions
|
|
|
(3,721 |
) |
|
|
|
|
|
Unrecognized tax positions, end of year
|
|
$ |
1,134,173 |
|
|
$ |
552,082 |
|
|