Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.23.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of deferred tax assets
    December 31,
2022
    December 31,
2021
 
Deferred tax assets:            
Amortization   $ 8,000     $ 11,000  
Research & development costs     592,000      
-
 
ROU asset     6,000      
-
 
Warrant liabilities     33,000      
-
 
Stock-based compensation     303,000       -  
Net operation loss carryforwards     3,213,000       920,000  
Total deferred tax asset     4,155,000       931,000  
Deferred tax liabilities:                
Depreciation     (12,000 )     (931,000 )
Net deferred tax asset     4,143,000       931,000  
Valuation allowance     (4,143,000 )     (931,000 )
    $
-
    $
-
 

 

Schedule of federal income tax rate
    December 31,
2022
    December 31,
2021
 
             
Statutory federal income tax rate     21.0 %     21.0 %
State taxes, net of federal tax benefit     0.1 %     7.0 %
Stock-based compensation     0.8 %     (6.1 )%
Shares issued for services    
-
%     (9.7 )%
Change in fair value of warrant liabilities    
-
%     30.1 %
Permanent items     (1.6 )%     - %
Other     4.2 %    
-
%
Change in valuation allowance     (24.4 )%     (42.3 )%
Income tax provision    
%    
%