Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components of deferred tax assets

At December 31, 2017 and 2016, the significant components of the deferred tax assets are summarized below:

	2017			2016
Deferred income tax asset
Net operation loss carryforwards		2,329,554			1,642,678
Book to tax differences in intangible assets		74,100			—
Total deferred income tax asset		2,403,654			1,642,678
Less: valuation allowance		(2,403,654	)		(1,642,678	)
Total deferred income tax asset	$	—		$	—

Schedule of components of Income tax expense

Income tax expense reflected in the consolidated statements of income consist of the following for 2017 and 2016:

	2017		2016
Current
Federal	$	—	$	—
State		—		—
		—		—
Deferred
Federal		—		—
State		—		—
		—		—
Income tax expense	$	—	$	—

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation of the effective income tax rate to the federal statutory rate for the years ended December 31, 2017 and 2016 is as follows:

	2017						2016
	Amount			Percent			Amount			Percent
Federal statutory rates	$	(3,497,679	)		34.0	%	$	(539,317	)		34.0	%
State income taxes		(514,365	)		5.0	%		(79,311	)		5.0	%
Amortization of intangible assets		74,100			-0.7	%		—			0.0	%
Permanent differences		3,251,067			-31.6	%		(56,636	)		3.6	%
Valuation allowance against net deferred tax assets		686,876			-6.7	%		675,264			-42.6	%
Effective rate	$	—			0.00	%	$	—			0.00	%