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 Taxes  
Schedule of income tax (benefit) provision

For The Years Ended

December 31

    

2021

    

2020

Federal:

 

  

 

  

Current

$

$

Deferred

 

 

State and local:

 

  

 

  

Current

 

 

Deferred

 

 

Income tax provision

$

$

Schedule of expected tax benefit based on the statutory rate reconciled

For The Years Ended December 31, 

 

    

2021

    

2020

 

U.S. federal statutory rate

 

21.0

%  

21.0

%

State tax rate, net of federal benefit

 

5.3

%  

5.3

%

Permanent differences

 

  

 

  

 Non-deductible expenses

 

(10.5)

%

(1.3)

%

State tax change

 

0.0

%  

0.0

%

Timing differences

0.6

%  

0.0

%

Change in valuation allowance

 

(16.4)

%

(25.0)

%

Income tax provision

 

0.0

%  

0.0

%

Schedule of deferred tax assets consisted of the effects of temporary differences

As of December 31, 

    

2021

    

2020

Deferred tax assets:

 

  

 

  

Net operating loss carryforwards

$

3,165

$

2,494

Intangible Assets

 

 

Other

 

4

 

3

Total deferred tax assets

 

3,169

 

2,497

Valuation allowance

 

(3,169)

 

(2,382)

Deferred tax assets, net of valuation allowance

$

$

115

Deferred tax liabilities:

 

 

  

Property and equipment, net

 

 

(115)

Total deferred tax liabilities

 

 

(115)

Net deferred tax liabilities

$

$