Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Taxes [Abstract]  
Schedule of components of the provision for income taxes
    For the years ended
December 31,
 
    2016     2015  
Current:            
Federal   $ -     $ -  
State     800       1,375  
      800       1,375  
Deferred:                
Federal     -       -  
State     -       -  
      -       -  
Total provision for (benefit from) income taxes   $ 800     $ 1,375  
Schedule of deferred tax assets (liabilities)
    For the years ended
December 31,
 
    2016     2015  
Deferred Tax Assets:                
Net operating loss carryforwards   $ 4,824,505     $ 3,306,431  
Research and development credits     151,303       134,724  
Accruals, reserves and other     14,037       14,597  
Depreciation and amortization     -       35,322  
Stock-based compensation     460,201       405,160  
Total deferred tax asset     5,450,046       3,896,234  
                 
Valuation allowance     (5,445,149 )     (3,889,501 )
                 
Deferred tax liabilities                
Depreciation and amortization     (4,897 )     (6,733 )
Net deferred tax assets   $ -     $ -  
Schedule of reconciliation of the statutory federal income tax
    For the year ended
December 31,
 
    2016     2015  
    %     %  
Statutory federal tax rate     34.00 %     34.00 %
State taxes, net of federal benefit     -0.00 %     -0.02 %
Valuation allowance     -8.89 %     -32.00 %
Mark to market of derivative     0 %     - %
Non deductible interest expense     0 %     - %
Other     -25.11 %     -2.00 %
Provision for income taxes     0.00 %     -0.02 %