INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES [Abstract]

Reconciliation of Expected Tax Expense (Benefit)

The Company did not have a provision for income taxes (current or deferred tax expense) for tax years ended December 31, 2021 and 2020. The following is a reconciliation of the expected tax expense (benefit) at the U.S. statutory rate to the actual tax expense (benefit) reflected in the accompanying statement of operations:

	Year Ended December 31,
	2021			2020
U.S. federal statutory rate	$	(847,867	)	$	(781,704	)
State and local taxes, net of federal benefit		(111,900	)		(132,291	)
Change in valuation allowance		734,615			1,201,450
True-up & deferred adjustment		11,441			23,614
Stock based compensation		8,171			19,159
Forgiveness of PPP loan		(210,432	)		-
Other permanent items		-			935
Change in tax rate		89,360			2,429
Expired warrants		-			(422,655	)
Other		326,612			89,063
	$	-		$	-

Deferred Tax Assets and Liabilities

As of December 31, 2021 and 2020, the Company’s deferred tax assets and liabilities consisted of the effects of temporary differences attributable to the following:

	Year Ended December 31,
	2021			2020
Deferred tax assets:
Net operating losses	$	14,136,491		$	13,366,483
Inventory reserves and allowances		30,156			31,249
Accrued Expenses and Deferred Income		136,686			45,358
Charitable contribution		5,134			5,303
Stock based compensation		1,903,413			1,966,058
Net book value of fixed assets		1,961			6,574
Net book value of intangible assets		671,954			731,365
ASC 842 - Lease Accounting		33,891			32,681
Total deferred tax assets		16,919,686			16,185,071
Net deferred tax assets		16,919,686			16,185,071
Valuation allowance		(16,919,686	)		(16,185,071	)
Net deferred tax assets	$	-		$	-