General form of registration statement for all companies including face-amount certificate companies

Note 7 - Income Taxes (Tables)

v3.19.2
Note 7 - Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Notes Tables  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
    2018   2017
Current provision:                
Federal   $
-
    $
-
 
State    
-
     
-
 
Foreign    
-
     
-
 
Total current provision    
-
     
-
 
                 
Deferred provision (benefit):                
Federal    
7,726
   
17,837,120
State    
(2,749,386
)    
1,417,482
Foreign    
-
     
-
 
Total deferred provision (benefit)    
(2,741,660
)    
19,254,602
Valuation allowance    
2,741,660
   
(19,254,602
)
Consolidated income tax provision   $
-
    $
-
 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
    2018   2017
Federal statutory rate    
(21.0
%)    
(34.0
%)
State income taxes, net of Federal benefits    
(5.0
%)    
(4.1
%)
Rate changes    
(66.3
%)    
155.0
%
Change in fair value of liability classified warrants    
(17.3
%)    
(3.6
%)
Other, including non-deductible expenses    
53.9
%    
9.6
%
Valuation allowance    
55.7
%    
(122.9
%)
Total    
0.0
%    
0.0
%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
    2018   2017
Net operating loss carryforwards   $
42,580,533
    $
35,610,806
 
Stock based compensation expense    
2,643,471
     
6,764,508
 
Tax credit carryforwards and other    
1,005,255
     
1,112,286
 
Gross deferred tax assets    
46,229,259
     
43,487,600
 
                 
Valuation allowance    
(46,229,259
)    
(43,487,600
)
Net deferred tax assets   $
-
    $
-