Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Loss Before Income Tax, Domestic and Foreign |
United States and international
components of loss before income taxes were as follows:
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| United States |
|
$ |
(4,741,002 |
) |
|
$ |
(5,397,049 |
) |
| International |
|
|
(1,040,681 |
) |
|
|
(1,559,766 |
) |
| Loss before income taxes |
|
$ |
(5,781,683 |
) |
|
$ |
(6,956,815 |
) |
|
| Schedule of Components of Income Tax Provision (Benefit) |
The income tax provision (benefit)
consisted of the following:
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Federal |
|
|
|
|
|
|
|
|
| Current |
|
$ |
- |
|
|
$ |
- |
|
| Deferred |
|
|
(238,985 |
) |
|
|
(745,677 |
) |
| |
|
|
|
|
|
|
|
|
| State and local |
|
|
|
|
|
|
|
|
| Current |
|
|
- |
|
|
|
- |
|
| Deferred |
|
|
5,778,140 |
|
|
|
425,387 |
|
| |
|
|
|
|
|
|
|
|
| Foreign |
|
|
|
|
|
|
|
|
| Current |
|
|
- |
|
|
|
- |
|
| Deferred |
|
|
130,114 |
|
|
|
326,017 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
5,669,269 |
|
|
|
5,727 |
|
| Change in valuation allowance |
|
|
(5,669,269 |
) |
|
|
(5,727 |
) |
| Income tax provision (benefit) |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Effective Income Tax Rate Reconciliation |
For the years ended December 31,
2020 and 2019, the expected tax expense (benefit) based on the statutory rate is reconciled with the actual tax expense (benefit) as follows:
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| U.S. federal statutory rate |
|
|
(21.0 |
)% |
|
|
(21.0 |
)% |
| State taxes, net of federal benefit |
|
|
0 |
% |
|
|
(0.1 |
)% |
| Permanent differences |
|
|
1.4 |
% |
|
|
0.7 |
% |
| Write-off of deferred tax asset |
|
|
115.4 |
% |
|
|
18.9 |
% |
| Prior period adjustments |
|
|
1.5 |
% |
|
|
2.4 |
% |
| Other |
|
|
0.8 |
% |
|
|
(0.9 |
)% |
| Change in valuation allowance |
|
|
(98.1 |
)% |
|
|
(0.1 |
)% |
| |
|
|
|
|
|
|
|
|
| Income tax provision (benefit) |
|
|
0.0 |
% |
|
|
0.0 |
% |
|
| Schedule of Deferred Tax Assets |
As of December 31, 2020 and 2019,
the Company’s deferred tax assets consisted of the effects of temporary differences attributable to the following:
| |
|
For the Years Ended |
|
| |
|
December 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Net operating loss |
|
$ |
14,520,050 |
|
|
$ |
19,732,170 |
|
| Stock based compensation |
|
|
166,082 |
|
|
|
349,027 |
|
| Argentine tax credits |
|
|
70,201 |
|
|
|
109,610 |
|
| Accruals and other |
|
|
6,720 |
|
|
|
37,144 |
|
| Receivable allowances |
|
|
263,563 |
|
|
|
469,017 |
|
| Total deferred tax assets |
|
|
15,026,616 |
|
|
|
20,696,968 |
|
| Valuation allowance |
|
|
(15,026,520 |
) |
|
|
(20,695,788 |
) |
| Deferred tax assets, net of valuation allowance |
|
|
96 |
|
|
|
1,180 |
|
| Excess of book over tax basis of warrants |
|
|
(96 |
) |
|
|
(1,180 |
) |
| Net deferred tax assets |
|
$ |
- |
|
|
$ |
- |
|
|