• Filing Date: 2021-04-16
  • Form Type: 10-K/A
  • Description: Annual report (Amendment)
v3.21.1
H. INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Reconciliation of income tax expense (benefit)
    December 31,  
    2020     2019  
U.S. federal tax benefit at statutory rate   $ (2,068,792 )   $ (1,762,816 )
State income tax benefit, net of federal benefit     (194,565 )     (165,789 )
Stock compensation     57,611       37,761  
Other nondeductible, including goodwill impairment     576       1,373  
Change in state tax rate     -       27,945  
Federal and state net operating loss adjustments     1,605,223       234,659  
Other, including effect of tax rate brackets     (56,640 )      (17,043 )
Change in valuation allowance     656,587       1,643,910  
    $ -     $ -  
Deferred tax assets and liabilities
    December 31,  
Deferred Tax Assets   2020     2019  
Net operating loss carryforwards   $ 35,540,911     $ 34,933,500  
Accruals and other     545,225       498,572  
Capital loss carryforwards     11,003       16,908  
Valuation allowance     (36,096,792 )     (35,440,205 )
Net deferred tax assets     347       8,775  
Deferred Tax Liabilities                
Other liabilities     (347 )     (8,775 )
Net Deferred Tax Liabilities   $ -     $ -