INCOME TAXES (Tables)
|
12 Months Ended |
Dec. 31, 2021 |
|---|
| INCOME TAXES |
|
| Schedule of component of net loss |
|
|
Years Ended December 31, |
|
|
|
2021 |
|
|
2020 |
|
Domestic |
|
$ |
(9,163,367 |
) |
|
$ |
(9,105,728 |
) |
(Loss) before provision for income taxes |
|
$ |
(9,163,367 |
) |
|
$ |
(9,105,728 |
) |
|
| Schedule Of Expected Tax Expense Computed By Applying Federal Corporate Statutory Tax Rate |
|
|
For the Years Ended December 31, |
|
|
|
2021 |
|
|
2020 |
|
Income tax (benefit) / Expense at federal statutory rate |
|
$ |
(1,924,307 |
) |
|
|
21.0 |
% |
|
$ |
(1,912,203 |
) |
|
|
21.0 |
% |
State income taxes, net of federal benefit |
|
|
(434,344 |
) |
|
|
4.7 |
% |
|
|
(431,612 |
) |
|
|
4.7 |
% |
Stock based compensation |
|
|
(128,211 |
) |
|
|
1.4 |
% |
|
|
36,078 |
|
|
|
(0.4 |
)% |
Other non-deductible items |
|
|
(26,590 |
) |
|
|
0.3 |
% |
|
|
4,945 |
|
|
|
(0.1 |
)% |
Change in valuation allowance |
|
|
2,513,451 |
|
|
|
(27.4 |
)% |
|
|
2,302,791 |
|
|
|
(25.3 |
)% |
Total income tax provision |
|
$ |
- |
|
|
|
0.0 |
% |
|
$ |
- |
|
|
|
0.0 |
% |
|
| Schedule Of Deferred Tax Assets And Liabilities |
|
|
For the Years Ended December 31, |
|
|
|
2021 |
|
|
2020 |
|
Deferred tax assets: |
|
|
|
|
|
|
Federal net operating loss carryforwards |
|
$ |
17,643,858 |
|
|
$ |
16,407,136 |
|
State net operating loss carryforwards |
|
|
3,135,622 |
|
|
|
2,856,476 |
|
Stock based compensation |
|
|
2,898,289 |
|
|
|
1,900,706 |
|
Total deferred tax assets |
|
$ |
23,677,769 |
|
|
$ |
21,164,319 |
|
Valuation allowance |
|
|
(23,677,769 |
) |
|
|
(21,164,319 |
) |
Total deferred income taxes |
|
$ |
- |
|
|
$ |
- |
|
|
| Summary Of Operating Loss Carryforwards |
|
|
Net Operating Loss Expiration by Year |
|
2023 |
|
$ |
69,188 |
|
2024 |
|
|
2,867,736 |
|
2025 |
|
|
3,728,213 |
|
2026 |
|
|
2,669,446 |
|
2027 |
|
|
1,386,345 |
|
2028 through 2037 |
|
|
41,517,220 |
|
Total expiring operating losses (incurred prior to December 31, 2017) |
|
$ |
52,238,148 |
|
Non-expiring operating losses (incurred after December 31, 2017) |
|
|
31,780,226 |
|
Total Operating Loss |
|
$ |
84,018,374 |
|
|