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11. INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of components of income tax expense

The income tax provision (benefit) on the statements of operations was comprised of the following for the years ended December 31:

 

    2020     2019  
Current income taxes   $ (23,298 )   $  
Deferred income tax provision (benefit)     917,480       (909,976 )
Income tax provision (benefit)   $ 894,182     $ (909,976 )
Schedule of deferred tax assets
    2020     2019  
Deferred tax assets:                
Net operating loss carryforward   $ 4,261,552     $ 837,327  
Operating lease obligation     1,016,847        
Stock-based compensation     650,737       497,760  
Tax credits     491,261       175,859  
Capital loss carryforward and other     270,551       5,825  
      6,690,948       1,516,771  
Deferred tax liabilities:                
Amortization of intangibles assets     (548,149 )     (430,885 )
Depreciation of fixed assets     (435,218 )     (168,406 )
Right-of-use assets     (1,014,606 )      
      (1,997,973 )     (599,291 )
Less valuation allowance     (4,692,975 )      
Deferred tax asset, net   $       917,480  
Schedule of effective income tax rate reconciliation
   2020   2019 
Statutory federal tax rate   21.0%    21.0% 
Permanent differences – stock-based compensation   14.9    (33.9)
Permanent differences – R&D tax credit   1.3    (0.9)
Return-to-provision adjustments   2.8     
Change in valuation allowance   (56.9)    
Change in carryovers and tax attributes   6.1    (0.1)
Effective tax rate   (10.8)%   (13.9)%