Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income Tax Benefit Computed Using US Statutory Federal Tax Rate

Tax benefit for income taxes differs from the amount computed using the federal US statutory income tax rate as follows:

	Year Ended December 31,
	2020			2019
Tax benefit at U.S. statutory rate	$	(629,108	)	$	(88,547	)
State income taxes, net of federal benefit		(86,744	)		(13,260	)
Tax effect of foreign operations		119,558			(3,801	)
Non-deductible items		57			792
NOL carryback rate difference		(329,618	)		-
Valuation allowance		345,397			89.959
Other		(31,520	)		(76	)
Income tax benefit	$	(611,978	)	$	(14,933	)

Schedule of Income Tax (Benefit)

The income tax benefit for the years ended December 31, 2020 and 2019 consists of:

	2020			2019
Current:
Federal	$	(874,000	)	$	-
State		2,000			1,000
Foreign		-			(4,000	)
Deferred:
Federal		231,000			(11,000	)
State		29,000			(1,000	)
Income Tax Benefit	$	(612,000	)	$	(15,000	)

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets:
Net operating loss	$	343,000		$	416,000
Liabilities and reserves		28,000			25,000
Property and equipment and inventory		(1,000	)		6,000
Stock options		62,000			85,000
Business interest expense limitation		1,000			-
Right of use asset		3,000			-
		436,000			532,000
Deferred tax liabilities:
Gain/loss on disposal		(9,000	)		(9,000	)
Intangible assets		(251,000	)		(433,000	)
Valuation allowance		(436,000	)		(90,000	)
		(696,000	)		(532,000	)
Net deferred tax assets and liabilities	$	(260,000	)	$	-