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INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2021
INCOME TAXES  
Schedule of Income tax provision

 

 

Nine months ended

September 30,

 

 

 

2021

 

 

2020

 

Expected tax at 21%

 

$(1,289,109)

 

$(289,002)

 

 

 

 

 

 

 

 

 

Nontaxable gain on forgiveness of SBA PPP loan

 

 

(5,976)

 

 

-

 

Nontaxable unrealized gain on investment in and receivable from Can B Corp

 

 

-

 

 

 

(15,505)

Nondeductible stock-based compensation

 

 

260,085

 

 

 

108,745

 

Increase (decrease) in valuation allowance

 

 

1,035,000

 

 

 

195,762

 

 

 

 

 

 

 

 

 

 

Income tax provision

 

$-

 

 

$-

 

Schedule of deferred income tax assets

 

 

September 30,

2021

 

 

December 31,

2020

 

 

 

 

 

 

 

 

Net operating loss carryforward

 

 

5,884,551

 

 

 

4,849,551

 

 

 

 

 

 

 

 

 

 

Less valuation allowance

 

 

(5,884,551)

 

 

(4,849,551)

 

 

 

 

 

 

 

 

 

Deferred income tax assets - net

 

$-

 

 

$-