Schedule of Income before Income Tax, Domestic and Foreign |
Schedule of Income before Income Tax, Domestic and Foreign |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
2020 |
United States |
|
$ |
(40,001,893 |
) |
|
$ |
(28,850,926 |
) |
|
$ |
(18,096,148 |
) |
Foreign |
|
|
(7,617,534 |
) |
|
|
(8,790,143 |
) |
|
|
(8,161,658 |
) |
Total |
|
$ |
(47,619,427 |
) |
|
$ |
(37,641,069 |
) |
|
$ |
(26,257,806 |
) |
|
Schedule of deferred tax asset and liabilities |
Schedule of deferred tax asset and liabilities |
|
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
Net operating loss carryforwards |
|
$ |
46,208,000 |
|
|
$ |
34,982,000 |
|
Research and development tax credit carryforwards |
|
|
2,182,000 |
|
|
|
1,577,000 |
|
Stock-based compensation |
|
|
13,373,000 |
|
|
|
10,453,000 |
|
Unpaid charges |
|
|
894,000 |
|
|
|
89,000 |
|
Intangible asset costs |
|
|
388,000 |
|
|
|
323,000 |
|
Foreign exchange and other |
|
|
44,000 |
|
|
|
62,000 |
|
Valuation allowance of deferred tax assets |
|
|
(63,089,000 |
) |
|
|
(47,486,000 |
) |
Net deferred tax assets |
|
$ |
— |
|
|
$ |
— |
|
|
Schedule of Effective Income Tax Rate Reconciliation |
Schedule of Effective Income Tax Rate Reconciliation |
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|
|
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
2021 |
|
2020 |
Income tax benefit at statutory federal rate |
|
$ |
(10,000,000 |
) |
|
$ |
(7,934,000 |
) |
|
$ |
(5,519,000 |
) |
Foreign income taxed at other rates |
|
|
(170,000 |
) |
|
|
(353,000 |
) |
|
|
(723,000 |
) |
Permanent differences relating to stock based compensation |
|
|
(714,000 |
) |
|
|
(4,379,000 |
) |
|
|
— |
|
Permanent differences relating to Section 162(m) |
|
|
— |
|
|
|
816,000 |
|
|
|
— |
|
Other permanent differences |
|
|
— |
|
|
|
741,000 |
|
|
|
35,000 |
|
Adjustment to tax assets based on Section 382 |
|
|
— |
|
|
|
3,330,000 |
|
|
|
— |
|
Research and development credits, net |
|
|
232,000 |
|
|
|
1,042,000 |
|
|
|
1,267,000 |
|
State and local taxes |
|
|
(4,975,000 |
) |
|
|
(7,022,000 |
) |
|
|
(2,911,000 |
) |
Adjustment to true up to prior years' tax provision |
|
|
24,000 |
|
|
|
48,000 |
|
|
|
373,000 |
|
Effect of change in statutory tax rates |
|
|
— |
|
|
|
216,000 |
|
|
|
36,000 |
|
State minimum and excise taxes |
|
|
358,492 |
|
|
|
267,565 |
|
|
|
22,664 |
|
Change in valuation allowances |
|
|
15,603,000 |
|
|
|
13,495,000 |
|
|
|
7,442,000 |
|
Income tax expense |
|
$ |
358,492 |
|
|
$ |
267,565 |
|
|
$ |
22,664 |
|
|