Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Taxes Tables

Schedule of deferred tax assets and liabilities

The income tax effect of temporary differences comprising the deferred tax assets and deferred tax liabilities is a result of the following at December 31:

	2020			2019
Deferred tax assets (liability):
Net operating loss and contribution carryforwards	$	4,677,000		$	3,838,000
Fixed asset		1,000			—
Intangible asset		(16,000	)		(14,000	)
Capital loss carryforward		—			—
Charitable contributions		53,000			—
Stock-based compensation		696,000			248,000
		5,411,000			4,072,000
Valuation allowance		(5,411,000	)		(4,072,000	)
Net deferred tax assets	$	—		$	—

Reconciliation of the statutory federal income tax expense (benefit)

A reconciliation between the statutory federal income tax rate and the effective rate of income tax expense for the years ended December 31 follows:

	2020			2019
Statutory federal income tax rate		21	%		21	%
Permanent differences and other		(3.91	)%		0	%
NOL expirations		(3.10	)
True-up		0.03
Valuation allowance		(14.02	)%		(21	)%
Total		0	%		0	%