Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.19.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Deferred Tax Liabilities

Significant items making up the deferred tax assets and deferred tax liabilities as of December 31, 2018 and 2017 are as follows:

 

    2018     2017  
Long term deferred taxes:                
Inventories   $ 74,733     $ 49,067  
Accounts receivable allowance     -       -  
Other accruals     75,992       75,992  
Accelerated tax depreciation     6,252       6,945  
Non-cash, stock-based compensation, nonqualified     767,885       606,020  
Impairment loss on investment     104,609       103,748  
Goodwill and intangibles     -          
Operating loss carry forwards and tax credits     16,112,934       12,196,765  
Less: valuation allowance     (17,142,405 )     (13,038,537 )
Total net deferred tax assets   $ -     $ -  

Schedule of Effective Income Tax (Benefit) Provision Rate

Our effective income tax (benefit) provision rate was different than the statutory federal income tax (benefit) provision rate as follows for the years ended December 31:

 

    2018     2017  
Federal tax provision rate     21 %     35 %
Permanent differences     (0 )%     0 %
State tax expense     0 %     0 %
Refundable AMT and R&D tax credit     0 %     0 %
Net operating loss carry back     0 %     0 %
Valuation allowance     (21 )%     (35 )%
Effective income tax provision     0 %     0 %