Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.19.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of provision for income taxes

 

    For the years ended
December 31,
 
    2018     2017  
Current:            
Federal   $ -     $ -  
State     374       800  
      374       800  
Deferred:                
Federal     -       -  
State     -       -  
      -       -  
Total provision for (benefit from) income taxes   $ 374     $ 800  

Schedule of deferred tax assets (liabilities)
    For the years ended
December 31,
 
    2018     2017  
Deferred Tax Assets:            
Net operating loss carryforwards   $ 2,218,360     $ 3,551,327  
Research and development credits     146,322       144,305  
Accruals, reserves and other     77,270       59,006  
Depreciation and amortization     -       -  
Stock-based compensation     445,806       628,289  
Total deferred tax asset     2,887,758       4,382,927  
                 
Valuation allowance     (2,906,301 )     (4,376,733 )
                 
Deferred tax liabilities                
Depreciation and amortization     18,543       (6,194 )
Net deferred tax assets   $ -     $ -  
Schedule of reconciliation of the statutory federal income tax

    For the year ended
December 31,
 
    2018     2017  
    %     %  
Statutory federal tax rate     21.00 %     34.00 %
State taxes, net of federal benefit     6.50 %     0.00 %
Valuation allowance     (27.50 )%     25.14 %
Other     0 %     8.89 %
Provision for income taxes     0.00 %     0.00 %