Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.24.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2023
Income Tax Disclosure [Abstract]  
Schedule of Net Deferred Income Tax Assets

 

                 
    December 31,  
    2023     2022  
Deferred tax assets:                
Federal net operating loss carryforward   $ 66,679     $ 66,741  
Stock based compensation and other items     3,216       4,674  
Intellectual property     37,219       41,572  
Section 14 research and development    

2,578

      -  
Deferred tax assets before valuation     109,692       112,987  
Valuation allowance     (109,692 )     (112,987 )
Net deferred income tax assets   $ -     $ -  
Schedule of Income Tax Provision

A reconciliation of the federal statutory income tax rate and the effective income tax rate as a percentage of income before income tax provision is as follows for the year ended:

  

    2023     2022  
    December 31,  
    2023     2022  
Federal statutory income tax rate     21 %     21 %
State tax, net of federal benefit     8 %     8 %
Change in valuation allowance on net operating loss carryforwards     (29 )%     (29 )%
Effective income tax rate     0 %     0 %