Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

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

	2017			2016
Tax provision (benefit) at Federal statutory rate		(34.00	)%		(34.00	)%
Accrued compensation		(0.32	)%		0.89	%
Stock based compensation		4.15	%		10.01	%
Depreciation and amortization		0.59	%		0.36	%
Other		0.26	%		0.09	%
Change in valuation allowance		29.32	%		22.65	%
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:

	2017			2016
DEFERRED TAX ASSETS, net:
Net operating loss carryforwards	$	8,705,467		$	12,013,384
Accrued compensation		1,074,903			1,535,184
Stock based compensation		66,348			200,700
Credit carryforwards		71,910			100,318
Depreciation and amortization carryforwards		(71,054	)		(87,903	)
Total		9,847,574			13,761,683
Less valuation allowance		(9,847,574	)		(13,761,683	)
NET DEFERRED TAX ASSETS assets	$	-		$	-