Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents a reconciliation of the statutory Federal rate and the Company’s effective tax rate for the years ended December 31:

	2019			2018
Change in valuation allowance		12.80	%		17.69	%
Debt instruments		3.19	%		0.00	%
Stock based compensation		2.92	%		3.37	%
Accrued compensation		1.03	%		(0.28	)%
Interest expense		0.85	%		0.00	%
Depreciation and amortization		0.16	%		0.15	%
Other		0.04	%		0.07	%
Tax provision (benefit) at Federal statutory rate		(21.00	)%		(21.00	)%
Effective tax rate		0.00	%		0.00	%

The following table presents significant components of the Company’s deferred tax assets and liabilities for the years ended December 31:

	2019			2018
DEFERRED TAX ASSETS, net:
Net operating loss carryforwards	$	10,670,455		$	9,633,893
Accrued compensation		1,211,630			1,080,432
Stock based compensation		196,809			178,174
Credit carryforwards		58,122			52,592
Interest expenses		57,332			-
Depreciation and amortization		(208,482	)		(63,917	)
Debt instruments		(408,144	)		-
Total		11,577,722			10,881,174
Less valuation allowance		(11,577,722	)		(10,881,174	)
NET DEFERRED TAX ASSETS	$	-		$	-