XML 40 R25.htm IDEA: XBRL DOCUMENT v3.22.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Taxes  
Schedule of federal and state statutory tax rates and the provision for income tax benefit

    

2021

    

2020

Federal

$

$

Foreign

 

 

State

 

(864,742)

 

(836,893)

Income tax benefit

$

(864,742)

$

(836,893)

Schedule of deferred tax assets and liabilities

    

2021

    

2020

Net operating loss carry forwards

$

28,065,000

$

27,022,000

Orphan drug and research and development credit carry forwards

 

8,605,000

 

8,149,000

Equity based compensation

 

264,000

 

264,000

Intangibles

 

1,953,000

 

817,000

Total

 

38,887,000

 

36,252,000

Valuation allowance

 

(38,887,000)

 

(36,252,000)

Net deferred tax assets

$

$

Schedule of federal and state statutory tax rates and the provision for income tax benefit

    

2021

    

2020

 

Federal tax at statutory rate

 

(21.0)

%

(21.0)

%

State tax benefits, plus sale of NJ NOL, net of federal benefit

 

(7.6)

 

(5.8)

Foreign tax rate difference

 

0.1

 

0.1

Orphan drug and research and development credits

 

(4.3)

 

4.8

Permanent differences

 

1.3

 

1.4

Foreign NOL adjustments

 

0.6

 

0.4

Expiration of tax attributes

 

4.9

 

6.9

Change in valuation allowance

 

19.6

 

8.7

Income tax benefit

 

(6.4)

%  

(4.5)

%