INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

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

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

	2020			2019			2018
United States	$	(183,524,137	)	$	(176,144,999	)	$	(132,617,160	)
Total	$	(183,524,137	)	$	(177,144,999	)	$	(132,617,160	)

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:

	2020			2019			2018
Federal statutory tax rate		21.0	%		21.0	%		21.0	%
State tax rate, net of federal tax benefit		5.1	%		4.0	%		5.2	%
Adjustment in valuation allowances		(27.0	)%		(22.5	)%		(31.2	)%
Excess stock benefits		0.1	%		0.2	%		5.3	%
Federal income tax rate change		0	%		0	%		-	%
Permanent and other differences		0.8	%		(2.7	)%		(0.3	)%
Provision (benefit) for income taxes		—			—			—

The components of the net deferred income tax asset as of December 31, 2020, 2019, and 2018 are as follows:

The components of the net deferred income tax asset as of December 31, 2020, 2019, and 2018 are as follows:

	2020			2019			2018
Deferred Income Tax Assets:
Net operating losses	$	195,008,131		$	157,555,975		$	126,419,113
Share based compensation		17,251,900			13,913,568			11,640,464
Interest expense limitation		12,991,716			5,389,129			1,173,614
Other, net		4,818,935			3,662,037			1,658,573
R&D credit		186,347			186,347			186,347
Total deferred income tax asset		230,257,029			180,707,056			141,078,111
Valuation allowance		(230,257,029	)		(180,707,056	)		(141,078,111	)
Deferred income tax assets, net	$	—		$	—		$	—