Income Taxes (Tables)
|
9 Months Ended |
Sep. 30, 2019 |
Income Tax Disclosure [Abstract] |
|
Schedule of income tax expense |
|
|
Three Months Ended September
30, |
|
|
Nine Months Ended September
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 September
30, |
|
|
Nine Months Ended September
30, |
|
|
|
2019 |
|
|
2018 |
|
|
2019 |
|
|
2018 |
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
|
(Unaudited) |
|
Tax benefit at statutory rate |
|
$ |
(688,749 |
) |
|
$ |
(524,572 |
) |
|
$ |
(1,703,699 |
) |
|
$ |
(1,266,726 |
) |
Net operating loss carryforwards (NOLs) |
|
|
543,562 |
|
|
|
574,508 |
|
|
|
1,235,409 |
|
|
|
1,287,325 |
|
Foreign investment losses |
|
|
107,200 |
|
|
|
34,551 |
|
|
|
290,900 |
|
|
|
49,200 |
|
Stock-based compensation expense |
|
|
154,400 |
|
|
|
84,574 |
|
|
|
292,900 |
|
|
|
223,019 |
|
Amortization expense |
|
|
58,700 |
|
|
|
(62,700 |
) |
|
|
33,100 |
|
|
|
(66,100 |
) |
Accrued R&D expense |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(168,000 |
) |
Accrued payroll |
|
|
900 |
|
|
|
- |
|
|
|
(40,900 |
) |
|
|
- |
|
Accrued professional expense |
|
|
-
|
|
|
|
(47,900
|
) |
|
|
- |
|
|
|
(47,900
|
) |
Accrued consulting expense |
|
|
(122,300 |
) |
|
|
- |
|
|
|
(122,300 |
) |
|
|
- |
|
Others |
|
|
(53,713 |
) |
|
|
(58,461 |
) |
|
|
17,825 |
|
|
|
(6,756 |
) |
Tax expense at effective tax rate |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,235 |
|
|
$ |
4,062 |
|
|
Schedule of deferred tax assets (liability) |
|
|
September 30, 2019 |
|
|
December 31, 2018
|
|
|
|
(Unaudited) |
|
|
|
|
Net operating loss carryforwards (NOLs) |
|
$ |
6,234,000 |
|
|
$ |
5,632,000 |
|
Stock-based compensation expense |
|
|
1,283,000 |
|
|
|
893,000 |
|
Accrued expenses and unpaid expense payable |
|
|
52,000 |
|
|
|
184,000 |
|
Tax credit carryforwards |
|
|
68,000 |
|
|
|
68,000 |
|
Excess of tax amortization over book amortization |
|
|
(629,000 |
) |
|
|
(818,000 |
) |
Others |
|
|
357,000 |
|
|
|
131,000 |
|
Gross |
|
|
7,365,000 |
|
|
|
6,090,000 |
|
Valuation allowance |
|
|
(7,365,000 |
) |
|
|
(6,090,000 |
) |
Net |
|
$ |
- |
|
|
$ |
- |
|
|