Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Taxes [Abstract]  
Provisions for Income taxes For the years ended December 31, 2021 and 2020 the provisions for income taxes were as follows: 2021 2020Federal – current$ — $ —State – current — —Foreign – current — —Total$ — $ —
Net Deferred Tax Assets and Liabilities Significant components of our net deferred tax assets and liabilities as of December 31, 2021 and 2020 are as follows: 2021 2020Deferred tax assets (liabilities): Net operating loss carryforwards$ 16,915,000 $ 14,881,000Stock based compensation 4,372,000 4,094,000Accrued compensation 31,000 19,000Depreciation and amortization 3,783,000 3,867,000Other 2,000 —Total deferred tax assets 25,103,000 22,861,000Valuation allowance for net deferred tax assets (25,103,000) (22,861,000)Total$ — $ —
Difference Between Provision for Income Taxes and Income Taxes Computed Using Federal Income Tax Rate The difference between the provision for income taxes and income taxes computed using the U.S. federal income tax rate for the years ended December 31, 2021 and 2020 was as follows: 2021 2020Computed expected tax expense$ (1,735,000) $ (613,000)State taxes, net of federal benefit (799,000) (141,000)Expiration of NOL carryforwards 87,000 44,000Other (32,000) 142,000Change in valuation allowance 2,479,000 568,000Total$ — $ —