XML 63 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets
Significant components of the Company’s deferred tax assets at December 31, 2019 and 2018 are shown below.
 
December 31,
 
2019
 
2018
Deferred tax assets:
 
 
 
Net operating loss carryforwards
$
41,780,806

 
$
35,104,728

Research and development credits
5,007,178

 
4,577,582

Other
1,406,893

 
1,725,577

Total
48,194,877

 
41,407,887

Less: valuation allowance
(48,194,877
)
 
(41,407,887
)
Deferred tax assets, net of valuation allowance
$

 
$

Schedule of Provision for Domestic and Foreign Income Taxes
The provision for domestic and foreign income taxes is as follows:
 
Years Ended December 31,
 
2019
 
2018
Current:
 
 
 
Foreign
$
19,492

 
$
13,955

State and local
1,556

 
1,556

Income tax provision
$
21,048

 
$
15,511

Schedule of Domestic and Foreign Components of Income (Loss)
The domestic and foreign components of income (loss) from continuing operations are as follows:
 
Years Ended December 31,
 
2019
 
2018
Domestic
$
(29,851,428
)
 
$
(18,515,638
)
Foreign
57,406

 
34,757

Loss before provision for income taxes
$
(29,794,022
)
 
$
(18,480,881
)
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the income tax computed at the federal statutory tax rate to the expense for income taxes are as follows:
 
December 31,
 
2019
 
2018
Income taxes at statutory rate
$
(6,256,953
)
 
$
(3,880,985
)
State income taxes, net of federal benefits
(529,351
)
 
(476,179
)
Change in valuation allowance
6,786,990

 
5,617,471

Other permanent differences
449,958

 
95,852

Research credits
(429,596
)
 
(502,511
)
Change in fair value of warrants

 
(838,137
)
Income tax expense
$
21,048

 
$
15,511

Schedule of Unrecognized Tax Benefits
A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, are as follows:
 
December 31,
 
2019
 
2018
Balance at beginning of the year
$
3,389,136

 
$
3,018,563

Increase related to current year positions
319,026

 
370,573

Balance at the end of the year
$
3,708,162

 
$
3,389,136