Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.23.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2022
Income Tax Disclosure [Abstract]  
Schedule of Net Deferred Income Tax Assets

 

                 
    December 31,  
    2022     2021  
Deferred tax assets:                
Federal net operating loss carryforward   $ 66,741     $ 58,171  
Stock based compensation and other items     4,674       7,622  
Intellectual property     41,572       62,055  
Deferred tax assets before valuation     112,987       127,848  
Valuation allowance     (112,987 )     (127,848 )
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:

 

    December 31,  
    2022     2021  
Federal statutory income tax rate     21 %     21 %
State tax, net of federal benefit     8 %     9 %
Change in valuation allowance on net operating loss carryforwards     (29 )%     (30 )%
Effective income tax rate     0 %     0 %