Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Taxes:

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred income taxes are as follows:

	December 31,
	2019			2018
Deferred tax assets
Net operating loss carryforwards	$	(1,833,083	)	$	(1,672,766	)
Start-up cost		133,424			153,964
Goodwill		319,413			363,979
Stock based compensation		556,177			535,901
Other		1,115			2,564
Deferred tax assets		2,843,212			2,729,174
Less valuation allowance		(2,843,212	)		(2,729,174	)
Net deferred tax assets after valuation allowance	$	—		$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. statutory federal income tax rate to the effective income tax rate (benefit) follows:

Rate Reconciliation

	December 31,
	2019			2018
Federal income tax at statutory rate	$	(108,133	)	$	(142,606	)
State Tax		(18,134	)		(29,506	)
Permanent Differences		89,146			57
Other		14,217			186
Change in Valuation Allowance		22,904			171,869
Net deferred tax assets after valuation allowance	$	—		$	—