Schedule of components of loss before income taxes |
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Year Ended December 31,
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2020
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2019
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Domestic
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$
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(7,996,327)
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$
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(7,523,695)
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Foreign
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(83,558)
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522,395
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Total Loss Before Income Taxes
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$
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(8,079,885)
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$
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(7,001,300)
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Schedule of components of income tax expense |
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Year Ended December 31,
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2020
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2019
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Deferred Taxes:
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Federal
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$
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(529)
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$
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(4,182)
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State
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12,584
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|
|
99,578
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Total Deferred Taxes
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$
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12,055
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$
|
95,396
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Income Tax Expense
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$
|
12,055
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$
|
95,396
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Schedule of deferred tax assets and liabilities |
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Year Ended December 31,
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2020
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2019
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Net Deferred Tax Liability:
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Net Operating Loss Carryforwards
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$
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17,042,422
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$
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15,230,646
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Research and Development Credit Carryforwards
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2,695,773
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2,594,055
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Capitalized Research and Development
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6,251,945
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6,521,705
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Stock-Based Compensation
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781,252
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814,438
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Depreciation and Amortization
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—
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|
|
170
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Cash Versus Accrual Adjustments
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223,674
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|
|
1,738,482
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Total Deferred Tax Assets
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26,995,066
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|
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26,899,496
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Valuation Allowance
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(25,320,159)
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(26,278,147)
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Net Deferred Tax Asset
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1,674,907
|
|
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621,349
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Depreciation and Amortization
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(1,083)
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|
|
—
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In-Process Research and Development
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(2,402,750)
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(986,713)
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Net Deferred Tax Liability
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|
$
|
(728,926)
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|
$
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(365,364)
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