14. Tax Provision (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Components of income tax expense

	December 31, 2019			December 31, 2018
Federal	$	(477,625	)	$	477,625
State and local		(105,305	)		105,305
Total	$	(582,931	)	$	582,931

Reconciliation of income tax expense

	December 31, 2019			December 31, 2018
Federal taxes at U.S. statutory rate		21.0%			21.0%
State income taxes		4.6%			4.6%
Permanent and temporary differences		(15.5%	)		27.5%
Change in valuation allowance		(6.8%	)		(15.1%	)
Effective tax rate		3.3%			38.1%

Components of income tax payable

	December 31, 2019		December 31, 2018
Federal	$	–	$	477,625
State and local		–		105,305
Total	$	–	$	582,931

Components of deferred income tax

	December 31, 2019			December 31, 2018
Deferred tax assets:
Bad debt allowance	$	18,168			–
Accrued expenses		38,413			–
Share based compensation accruals		3,528,726			373,493
Net operating loss carryforwards		1,703,425			–
Unrealized losses		578,201			118,766
Total deferred tax assets		5,866,934			492,259
Less: valuation allowance		(5,598,511	)		(492,259	)
Net deferred tax assets	$	268,423			–
Deferred tax liabilities:
Prepaid expenses	$	121,777			7,434
Fixed assets		12,388			24,256
Goodwill and intangible assets		636,188			174,173
Unrealized gains		417,046			–
Total deferred tax liabilities		1,187,399			205,863
Less: valuation allowance		(1,187,399	)		(205,863	)
Net deferred tax liabilities	$	–			–
Total deferred tax assets, net	$	268,423			–