Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of consolidated provision for income taxes

    Year Ended     Year Ended  
    December 31,
2019		     December 31,
2018		  
Income Tax Expense (benefit)            
Current federal tax expense            
Federal   $ 479,000     $ -0-  
State     -0-       -0-  
Deferred tax (benefit)                
Federal   $ (479,000 )   $ -0-  
State     -0-       -0-  
Total   $ -0-     $ -0-  
Schedule of deferred tax assets and liabilities
    Year Ended     Year Ended  
    December 31,
2019		     December 31,
2018		  
Deferred tax assets:            
Net operating losses     1,033,300     $ 2,165,100  
Deferred right to use lease liabilities     1,671,700       -  
Stock based compensation     354,800       663,300  
Amortization of debt discount     -       346,400  
Accruals, reserves and other     160,200       66,100  
      3,220,000       3,240,900  
Deferred tax liabilities:                
Deferred right to use lease assets     1,678,300       -  
Accumulated depreciation and amortization   $ 360,000     $ 358,000  
      2,038,300       358,000  
Gross deferred tax asset     1,181,700       2,882,900  
Valuation Allowance     (1,181,700 )     (2,882,900 )
Deferred tax asset (liability), net   $ 0     $ -0  
Schedule of U.S. Federal statutory income tax rate
    Years Ended December 31,  
    2019     2018  
Federal statutory tax rate     21 %     21 %
State and local income taxes (net of federal tax benefit)     -       -  
      21 %     21  
Valuation allowance     (21 )     (21 )
      0 %     0 %