Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of effective income tax rate renconciliation

 

  December 31,
  2019 2018
Federal income tax benefit at statutory rate 21.00% 21.00%
State income tax, net of federal benefits 5.44% 7.80%
Permanent items (0.01)% (9.88)%
Return to Provision (1.85) % -%
Other -% 0.49%
Change in valuation allowance (24.58)% (19.41)%
Provision for income taxes - -

Deferred tax assets

  December 31,
  2019 2018
Net operating loss carryforwards - Federal $3,619,000 $2,785,000
Net operating loss carryforwards - State 2,115,000 1,827,000
Stock based compensation 1,470,000 1,335,000
Capital loss carryforward 2,721,000 2,776,000
Capitalized Software (148,000) (182,000)
Settlement reserve 140,000 122,000
Depreciation and amortization (50,000) 1,000
Allowance for doubtful accounts 18,000 15,000
Valuation allowance (9,885,000) (8,679,000)
Net deferred tax assets $- $-