Deferred Tax Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule Reconciliation of Statutory Income Tax Rate to Consolidated Effective Income Tax rate

A reconciliation of income tax expense at the federal statutory rate to the income tax provision at the Company's effective rate is as follows for three months ended March 31, 2022 and 2021:

	March 31, 2022			March 31, 2021
Income tax (benefit) expense at statutory rates	$	(2,968,062	)	$	(1,444,503	)
Valuation allowance for deferred tax assets		2,947,086			1,390,076
Stock-based compensation		12,642			178,462
Other, net		14,108			(124,035	)
Reported income tax (benefit) expense		5,774			—
Effective tax rate:		0.00	%		0.00	%

Schedule of Deferred Tax Assets and Liabilities

The Company’s deferred tax assets and liabilities consisted of the following as of:

	March 31, 2022			December 31, 2021
Noncurrent deferred tax assets:
Net operating loss carryforwards	$	13,633,013		$	11,999,882
Intangible assets		1,826,921			17,951
Property and equipment		689,750			686,601
Research and development credits		223,613			165,216
Accrued expenses		58,900			98,296
Charitable contributions		41,298			38,447
Unexercised options		654,978			679,688
Total noncurrent deferred tax assets		17,128,473			13,686,081
Noncurrent deferred tax liabilities:
Right of use asset		549,483			568,787
Total noncurrent deferred tax liabilities		549,483			568,787
Net noncurrent deferred tax assets		16,578,990			13,117,294
Valuation allowance		(16,578,990	)		(13,124,828	)
Total net noncurrent deferred tax liabilities	$	0		$	(7,534	)