INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

For financial reporting purposes, income before taxes includes the following components:

For financial reporting purposes, income before taxes includes the following components:

	2019			2018			2017
United States	$	(176,144,999	)	$	(132,617,160	)	$	(76,925,380	)
Total	$	(176,144,999	)	$	(132,617,160	)	$	(76,925,380	)

A reconciliation between taxes computed at the federal statutory rate and the consolidated effective tax rate is as follows:

A reconciliation between taxes computed at the federal statutory rate and the consolidated effective tax rate is as follows:

	2019			2018			2017
Federal statutory tax rate		21.0	%		21.0	%		34.0	%
State tax rate, net of federal tax benefit		4.0	%		5.2	%		5.0	%
Adjustment in valuation allowances		(22.5	)%		(31.2	)%		22.6	%
Excess stock benefits		0.2	%		5.3	%		—	%
Federal income tax rate change		0	%		—	%		(60.8	)%
Permanent and other differences		(2.7	)%		(0.3	)%		(0.8	)%
Provision (benefit) for income taxes		—			—			—

The components of the net deferred income tax asset as of December 31, 2019, 2018, and 2017 are as follows:

The components of the net deferred income tax asset as of December 31, 2019, 2018, and 2017 are as follows:

	2019			2018			2017
Deferred Income Tax Assets:
Net operating losses	$	180,520,709		$	140,891,764		$	99,596,321
R&D Credit		186,347			186,347			186,347
Total deferred income tax asset		180,707,056			141,078,111			99,782,668
Valuation allowance		(180,707,056	)		(141,078,111	)		(99,782,668	)
Deferred income tax assets, net	$	—		$	—		$	—