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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Taxes  
Schedule of components of the provision for income taxes

 

 

 

 

 

 

 

 

 

December 31,

 

December 31,

 

    

2018

    

2017

Current:

 

 

 

 

 

 

Federal

 

$

 —

 

$

 —

State

 

 

 —

 

 

 —

Foreign

 

 

 —

 

 

 —

Total Current

 

 

 —

 

 

 —

Deferred:

 

 

 

 

 

 

Federal

 

 

 —

 

 

(12,165,311)

State

 

 

 —

 

 

(1,015,931)

Foreign

 

 

 —

 

 

 —

Total Deferred

 

 

 —

 

 

(13,181,242)

Total Provision for Income Taxes

 

$

 —

 

$

(13,181,242)

 

Schedule of effective tax rate, differed from the federal statutory rate

 

 

 

 

 

 

 

 

December 31,

 

December 31,

 

 

    

2018

    

2017

  

Statutory Rate

 

(21.0)

% 

(34.0)

% 

State Taxes

 

(5.6)

% 

(2.2)

% 

Tax Credits

 

(0.2)

% 

(0.2)

% 

Goodwill and Indefinite-lived Intangible Asset Impairment

 

3.4

% 

16.3

% 

Other

 

1.0

% 

3.6

% 

Effect of U.S. tax law change

 

 —

% 

2.6

% 

Valuation Allowance

 

22.4

% 

(23.6)

% 

Effective Tax Rate

 

 —

% 

(37.5)

% 

 

Schedule of net deferred tax assets

 

 

 

 

 

 

 

 

    

December 31,

    

December 31,

 

 

2018

 

2017

Non-current deferred tax assets:

 

 

 

 

 

 

Net operating losses

 

$

12,156,279

 

$

5,827,970

Tax credits

 

 

329,563

 

 

325,188

Stock compensation

 

 

1,479,325

 

 

1,198,657

Fixed assets and intangibles

 

 

 —

 

 

 —

Other

 

 

573,441

 

 

312,949

  

 

 

14,538,608

 

 

7,664,764

Valuation allowance

 

 

(8,512,820)

 

 

(1,625,782)

Net non-current deferred tax assets

 

 

6,025,788

 

 

6,038,982

Non-current deferred tax liabilities:

 

 

 

 

 

 

Fixed assets and intangibles

 

 

(6,025,788)

 

 

(6,038,982)

Net non-current deferred tax liability

 

 

(6,025,788)

 

 

(6,038,982)

Net non-current deferred tax asset (liability)

 

 

 —

 

 

 —

 

Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits

 

 

 

 

 

 

 

 

 

December 31,

 

December 31,

 

    

2018

    

2017

Gross Unrecognized Tax Benefit--Beginning Balance

 

$

97,010

 

$

113,073

Increases Related to Tax Positions from Prior Years

 

 

(20,607)

 

 

(55,960)

Increases Related to Tax Positions Taken During the Current Year

 

 

24,486

 

 

39,897

Gross Unrecognized Tax Benefit--Ending Balance

 

$

100,889

 

$

97,010