Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Schedule of components of deferred taxes
               
    Year Ended December 31,
    2021   2020
Deferred tax assets:        
Net operating loss carry forwards     1,752,000       1,313,000  
Stock based compensation     48,000       45,000  
Property and equipment     217,000       182,000  
Other     51,000       8,000  
Total deferred tax assets     2,068,000       1,548,000  
Deferred tax liabilities:                
Intangibles     (91,000 )      
Other     (308,000 )      
Total deferred tax liabilities     (399,000 )      
                 
Valuation Allowance     (1,669,000 )     (1,548,000 )
                 
Net deferred tax liabilities          
Schedule of expected income tax expense (benefit)
               
    2021   2020
U.S. federal statutory rate     21.0 %     21.0 %
State taxes     7.1 %     7.1 %
                 
           
Valuation allowance     (12.2 )%     (28.1 )%
Income tax provision     (12.9 )%     %