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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate

The Company’s effective income tax rate differs from the amount computed by applying the federal statutory income tax rate to loss before income taxes as follows:

 

   December 31, 2020   December 31, 2019 
Income tax benefit at federal statutory rate   (21.0)%   (21.0)%
State income tax benefit, net of federal benefit   (6.0)%   (6.0)%
Change in valuation allowance   27.00%   27.00%
           
Income taxes at effective tax rate   -%   -%
Schedule of Components of Deferred Taxes

The components of deferred taxes consist of the following at December 31, 2020 and 2019:

 

   December 31, 2020   December 31, 2019 
Net operating loss carryforwards  $2,479,000   $1,587,000 
Less: Valuation allowance   (2,479,000)   (1,587,000)
           
Net deferred tax assets  $-   $- 

 

On August 24, 2021, the Company entered into an advisor agreement with INTE Securities LLC (“INTE”) regarding the role and compensation of INTE in connection with equity transactions in which the Company, in each case directly or indirectly through one or more affiliates, (i) raises equity capital from one or more investors or otherwise issues the Company’s capital stock or (ii) otherwise issues instruments convertible into the Company’s capital stock, with the principal purpose of raising capital from one or more investors identified by INTE to the Company. The advisor agreement shall expire on the date specified by either INTE or the Company not less than 30 days prior to the date of termination. The Company agreed to pay INTE a fee equal to 4.0% of the total principal amount of the equity capital received from an investor by the Company. The INTE fee will be fully earned and due and payable at the initial closing of such transaction regardless of whether the capital raised is funded at the initial closing or over time.