Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Components Of Tax Expense (Benefit)

Significant components of the tax expense (benefit) recognized in the accompanying consolidated statements of operations for the period December 31, 2021 and December 31, 2020 are as follows:

	Year Ended			Year Ended
	December 31, 2021			December 31, 2020
Current tax benefit
Federal	$	(247,762	)	$	(466,975	)
State		(50,904	)		(96,630	)
Total current tax benefit		(298,666	)		(563,605	)
Deferred tax expense		144,541			266,357
Rate change adjustment		(2,844	)		3,937
Valuation allowance		156,969			293,311
Income tax benefit	$	-		$	-

Reconciliation Of Income Tax

The reconciliation of the income tax computed at the combined federal and state statutory rate of 12.6% as of December 31, 2021 and 17.1% as of December 31, 2020 to the income tax benefit is as follows:

	Year Ended					Year Ended
	December 31, 2021					December 31, 2020
Benefit on net loss		(156,142	)	12.6	%		(313,001	)	17.1	%
Nondeductible expenses		2,017		-0.3	%		15,753		-1.0	%
Rate change adjustment		(2,844	)	0.2	%		3,937		-0.2	%
Valuation allowance		156,969		-12.5	%		293,311		-15.9	%
Tax benefit/effective rate		-		0.0	%		-		0.0	%

Significant Components Of Deferred Tax Liabilities And Assets

The significant components of the Company’s deferred tax liabilities and assets as of December 31, 2021 and December 31, 2020 are as follows:

	As of December 31, 2021			As of December 31, 2020
Deferred tax assets:
Tax expense for debt issuance costs	$	157,926		$	170,241
Loss carryforwards		1,464,345			1,161,562
Organizational costs		59,394			65,050
Total deferred tax asset		1,681,665			1,396,853
Valuation allowance		(1,681,665	)		(1,396,853	)
Net deferred tax asset	$	-		$	-