Income Taxes (Tables)
|
6 Months Ended |
Jun. 30, 2019 |
Income Tax Disclosure [Abstract] |
|
Schedule of income tax expense |
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
Current: |
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
Federal |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
State |
|
|
- |
|
|
|
- |
|
|
|
1,600 |
|
|
|
2,400 |
|
Foreign |
|
|
- |
|
|
|
- |
|
|
|
1,635 |
|
|
|
1,662 |
|
Total |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,235 |
|
|
$ |
4,062 |
|
|
Schedule of reconciliation of the income tax at statutory tax rate |
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
Tax benefit at statutory rate |
|
$ |
(409,180 |
) |
|
$ |
(447,328 |
) |
|
$ |
(1,014,950 |
) |
|
$ |
(742,154 |
) |
Net operating loss carryforwards (NOLs) |
|
|
418,780 |
|
|
|
540,592 |
|
|
|
691,847 |
|
|
|
712,817 |
|
Foreign investment losses |
|
|
67,200 |
|
|
|
14,649 |
|
|
|
183,700 |
|
|
|
14,649 |
|
Stock-based compensation expense |
|
|
72,800 |
|
|
|
80,526 |
|
|
|
138,500 |
|
|
|
138,445 |
|
Amortization expense |
|
|
(12,800 |
) |
|
|
(1,700 |
) |
|
|
(25,600 |
) |
|
|
(3,400 |
) |
Accrued R&D expense |
|
|
- |
|
|
|
(168,000 |
) |
|
|
- |
|
|
|
(168,000 |
) |
Accrued payroll |
|
|
(149,400 |
) |
|
|
- |
|
|
|
(41,800 |
) |
|
|
- |
|
Others |
|
|
12,600 |
|
|
|
(18,739 |
) |
|
|
71,538 |
|
|
|
51,705 |
|
Tax expense at effective tax rate |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,235 |
|
|
$ |
4,062 |
|
|
Schedule of deferred tax assets (liability) |
|
|
June 30, 2019 |
|
|
December 31, 2018
|
|
|
|
(Unaudited) |
|
|
|
|
Net operating loss carryforwards (NOLs) |
|
$ |
6,689,000 |
|
|
$ |
5,632,000 |
|
Stock-based compensation expense |
|
|
1,078,000 |
|
|
|
893,000 |
|
Accrued expenses and unpaid expense payable |
|
|
249,000 |
|
|
|
184,000 |
|
Tax credit carryforwards |
|
|
68,000 |
|
|
|
68,000 |
|
Excess of tax amortization over book amortization |
|
|
(877,000 |
) |
|
|
(818,000 |
) |
Others |
|
|
421,000 |
|
|
|
131,000 |
|
Gross |
|
|
7,628,000 |
|
|
|
6,090,000 |
|
Valuation allowance |
|
|
(7,628,000 |
) |
|
|
(6,090,000 |
) |
Net |
|
$ |
- |
|
|
$ |
- |
|
|