Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

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

	2018			2017
Tax provision (benefit) at Federal statutory rate		(21.00	)%		(34.00	)%
Accrued compensation		(0.28	)%		(0.32	)%
Stock based compensation		3.37	%		4.15	%
Depreciation and amortization		0.15	%		0.59	%
Other		0.07	%		0.26	%
Change in valuation allowance		17.69	%		29.32	%
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:

	2018			2017
DEFERRED TAX ASSETS, net:
Net operating loss carryforwards	$	9,633,893		$	8,705,467
Accrued compensation		1,080,432			1,074,903
Stock based compensation		178,174			66,348
Credit carryforwards		52,592			71,910
Depreciation and amortization carryforwards		(63,917	)		(71,054	)
Total		10,881,174			9,847,574
Less valuation allowance		(10,881,174	)		(9,847,574	)
NET DEFERRED TAX ASSETS	$	-		$	-