Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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:

	2018			2017
Deferred tax assets:
Net operating loss and contribution carryforwards	$	3,068,000		$	2,480,000
Intangible asset		85,000			85,000
Capital loss carryforward		—			146,000
Stock-based compensation		208,000			247,000
		3,361,000			2,958,000
Valuation allowance		(3,361,000	)		(2,958,000	)
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:

	2018			2017
Statutory federal income tax rate		21	%		34	%
Permanent differences and other		(2	%)		(5	%)
Deferred tax impact from tax rate change		0	%		(50	%)
Valuation allowance		(19	%)		21	%
		0	%		0	%