Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.23.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Taxes  
Schedule of Deferred Tax Assets and Liabilities

For the Year Ended December 31, 

    

2022

    

2021

Current deferred income tax assets:

 

  

 

  

Accrued compensation and other

$

11,000

$

11,000

Less: valuation allowance

 

(11,000)

 

(11,000)

$

$

Non-current deferred income tax assets and (liabilities):

 

  

 

  

Net operating loss

$

13,642,000

$

13,013,000

Research and development credit

 

18,000

 

18,000

Research and experimental costs

 

595,000

 

Warrants issued for services

 

45,000

 

45,000

Depreciation and amortization

 

135,000

 

126,000

Exercise of options and warrants

 

(36,000)

 

(33,000)

Stock based compensation

 

1,149,000

 

1,028,000

Intangibles and other

 

(633,000)

 

(606,000)

Less: valuation allowance

 

(14,915,000)

 

(13,591,000)

Net non-current deferred tax assets

$

$

Schedule of Effective Income Tax Rate Reconciliation

For the Year Ended

 

December 31, 

 

    

2022

    

2021

 

Statutory federal income tax rate

 

(21)

%  

(21)

%

Valuation allowance

 

21

 

21

 

%  

%