Summary of Significant Accounting Policies (Table)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Deferred Tax Asset

The Company’s net deferred tax asset consisted of the following on December 31, 2020 and 2019:

	2020			2019
Deferred tax asset
Net operating loss carryforwards	$	5,463,220		$	28,067,400
Deferred compensation		1,165,300			1,165,300
Depreciation and amortization		223,800			269,300
Research and development credits		0			3,451,300
Accrued expenses		895,000			830,200
Impairment loss		513,400			513,400
Other		237,800			216,800
Total deferred tax assets		8,498,520			34,513,400
Less: Valuation allowance		(8,498,520	)		(34,513,400	)
Net deferred tax asset	$	-		$	-

Schedule of Income Tax Provision (Benefit)

The income tax provision (benefit) from income taxes consists of the following on December 31, 2020 and 2019:

	2020			2019
Federal
Current	$	-		$	-
Deferred		19,266,553			151,422
State
Current		-			-
Deferred		3,687,827			44,271
Total		22,954,380			195,693
Change in valuation allowance		(22,954,380	)		(195,693	)
Income tax provision (benefit)	$	-		$	-

Schedule of Effective Income Tax Rate Reconciliation

As a result of our loss from operations, significant operating loss carry forwards and the corresponding valuation allowance, no income tax benefit was recorded on December 31, 2020 and 2019. The provision for income taxes using the statutory federal tax rate as compared to our effective tax rate is summarized as follows:

	2020			2019
Federal income tax rate		21	%		21	%
State income tax rate, net of federal benefit		8.87	%		6.3	%
Income tax return to tax provision adjustment		0	%		0	%
Impact of U.S. 2017 tax act		0	%		0	%
Other permanent differences		5.49	%		(2.1	)%
Net operating loss expiration		0	%		0	%
Tax credits		%			(2.6	)%
Total Tax Rate		35.2	%		22.6	%
Change in valuation allowance		(35.2	)%		(22.6	)%