Income taxes (Tables)

12 Months Ended

Dec. 31, 2022

Income taxes

Schedule of components of earnings before income taxes

The components of earnings before income taxes for the years ended December 31, 2022 and 2021 were as follows:

	Year Ended		Year Ended
	December 31, 2022		December 31, 2021
Income (loss) before income taxes:
Domestic	$	(19,430,040)	$	(10,282,676)
Foreign		58,190		(386,712)
	$	(19,371,850)	$	(10,669,388)

Provision for income taxes

	December 31, 2022			December 31, 2021
Current:
U.S. Federal	$	—	$	—
U.S. State		7,600		7,600
Total current tax expense		7,600		7,600
Deferred:
U.S. Federal		—		—
U.S. State		—		—
Foreign		—		(37,842)
Total deferred expense (benefit)		—		(37,842)
Total provision (benefit) for income taxes	$	7,600	$	(30,242)

Schedule of reconciliation of the statutory income tax rates

A reconciliation of the statutory income tax rates and the Company’s effective tax rate is as follows:

	December 31, 2022		December 31, 2021
Statutory federal income tax rate	21.0	%	21.0	%
State taxes, net of federal tax benefit	5.4	%	6.0	%
Foreign rate differential	0.0	%	0.7	%
Permanent Items	(0.9)	%	(1.0)	%
Other	—	%	(2.8)	%
Change in valuation allowance	(25.6)	%	(23.6)	%
Income taxes provision (benefit)	(0.04)	%	0.3	%

Schedule of deferred tax assets and liabilities

The tax effects of the temporary differences and carry forwards that give rise to deferred tax assets and liabilities consist of the following:

	December 31, 2022		December 31, 2021
Deferred tax assets:
Net operating loss	$	29,179,852	$	27,298,015
Research and development credits		1,374,264		1,374,264
IRC §174 R&D capitalized expenses		2,185,759		—
Intangible assets		4,041,612		3,254,079
Asset retirement obligation		39,203		—
Impairment Loss		20,296		20,296
Stock compensation		381,803		323,486
Deferred lease liability		86,547		173,528
Other		11,329		—
Total deferred income tax assets		37,320,665		32,443,668
Less: Valuation allowance		(37,237,362)		(32,276,429)
Deferred tax assets, net		83,303		167,239
Deferred income tax liabilities:
Deferred lease assets		(82,569)		(166,947)
Other		(734)		(292)
Total deferred income tax liabilities		(83,303)		(167,239)
Deferred tax, net	$	—	$	—