Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes

Schedule of components of deferred tax assets and liabilities

	As of		As of		As of
	December 31, 2018		December 31, 2017		June 30, 2017
Federal net operating loss (“NOL”)	$	13,600,500	$	12,054,400	$	17,050,000
State NOL		2,116,300		1,148,800		1,597,000
Canadian NOL		1,978,500		1,140,000		560,300
Research and development credits		1,043,300		696,400		522,300
Stock Compensation & Other		1,206,300		1,000,100		1,232,500
Deferred tax asset valuation allowance		(19,348,600)		(16,039,700)		(20,962,100)
Total Deferred Tax Asset	$	596,300	$	—	$	—
Deferred tax liability (In-Process R&D )	$	(957,000)	$	(896,700)	$	(1,269,600)
Total Deferred Tax Liability	$	(957,000)	$	—	$	—
Net Deferred Tax Liability	$	(360,700)	$	(896,700)	$	(1,269,600)

Schedule of effective income tax rate (as a percent)

			For the transition period ended
	Year Ended		December 31,
	December 31, 2018		2017
U.S. statutory income tax rate	21.0	%	34.0	%
State income taxes, net of federal benefit	7.3		(6.6)
Sale of New Jersey tax benefits	—		16.9
Research and development credits	(3.7)		1.9
Net operating loss	—		—
Warrant liability	10.9		3.9
Rate change	—		(78.3)
Foreign Tax Differential	1.7		—
Other	(1.6)		—
Valuation allowance	(30.3)		49.1
Effective tax rate	5.3	%	20.9	%