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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Taxes (Tables)  
Schedule of Components of Income Tax Expense (Benefit)

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

Tax Expense at Statutory Rate

 

$2,133,953

 

 

$1,364,191

 

Valuation Allowance

 

 

(1,787,132)

 

 

(1,371,195)

Non-Deductible Expenses and Other

 

 

3,501

 

 

 

7,004

 

PPP Loan Forgiveness

 

 

(350,322)

 

 

-

 

State Taxes, Net of Federal Benefit

 

 

112,808

 

 

 

89,618

 

Income tax expense

 

$112,808

 

 

$89,618

 

 

 

 

 

 

 

 

 

 

Current

 

$112,808

 

 

$89,618

 

Total

 

$112,808

 

 

$89,618

 

 

 

 

 

 

 

 

-

 

Schedule of Deferred Tax Assets

 

 

2021

 

 

2020

 

Deferred tax assets (liabilities):

 

 

 

 

 

 

 

 

Inventories

 

$39,433

 

 

$22,620

 

Stock options and other

 

 

6,836

 

 

 

6,836

 

Contingencies and accruals

 

 

224,240

 

 

 

28,580

 

Property and equipment

 

 

(297,984)

 

 

(256,065)

Net operating loss carryforward

 

 

4,500,023

 

 

 

6,527,548

 

Goodwill and intangibles

 

 

40,945

 

 

 

27,085

 

Total deferred tax assets, net

 

 

4,513,493

 

 

 

6,356,604

 

 

 

 

 

 

 

 

 

 

Valuation allowance

 

$(4,513,493)

 

$(6,356,604)

Net Deferred tax asset

 

 

-

 

 

 

-