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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets

The significant components of the Company’s net deferred tax assets are as follows for the years ended December 31:


 

 

2019

 

2018

 

Deferred tax assets:

     

 

 

 

 

 

 

Net operating loss carryforwards

 

$

12,204,312

 

$

12,291,278

 

Provision for reserves

 

 

134,908

 

 

129,745

 

Compensatory stock options and warrants

 

 

193,066

 

 

179,275

 

Other

 

 

1,252

 

 

1,252

 

Total deferred tax assets

 

 

12,533,538

 

 

12,601,550

 

Valuation allowance

 

 

(12,533,538

)

 

(12,601,550

)

Net deferred tax assets

 

$

 

$

 

Schedule of Reconciliation of Income Taxes

A reconciliation of the Company’s income taxes to amounts calculated at the federal statutory rate is as follows for the years ended December 31:


 

 

2019

 

2018

 

 

   

 

 

    

 

 

 

Federal statutory taxes

 

 

(21.00

)%

 

 

(21.00

)%

 

State income taxes, net of federal tax benefit

 

 

(4.35

)%

 

 

(4.35

)%

 

Nondeductible items

 

 

0.00

 

 

 

0.00

 

 

Change in net loss carryforwards

 

 

29.35

 

 

 

 

 

Change in valuation allowance

 

 

(4.00

)%

 

 

25.35

%

 

 

 

 

%

 

 

%