Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES

Components of the income tax provisions

		2021				2020
Current provision:
Federal		$	-			$	-
State			-				-

Deferred benefit:
Federal			-				-
State			-				-
			-				-
Change in valuation allowance			-				-
Total Provision		$	-			$	-

Schedule of different tax rate

		2021				2020
Provision at statutory rate			21.00	%			21.00	%
State taxes, net of federal benefit			6.98	%			6.98	%
Other			(8.80	)			-	%
Nondeductible and other items			(0.01	)%			(0.04	)%
Change in valuation allowance			(19.17	)%			(27.94	)%
Total			(0.00	)%			(0.00	)%

Schedule of deferred taxes

		2021				2020
Deferred tax assets:
Allowance for doubtful debt		$	7,598			$	7,598
Stock options issued for services			1,790,359				1,731,729
Net operating loss carryforward			5,889,434				5,405,023
Other			401,918				84,081
Total deferred tax assets			8,089,309				7,228,431

Deferred tax liabilities:
Royalty obligation			(439,938	)			(573,541	)
Other			-				-
Total deferred tax liabilities			(439,938	)			(573,541	)
Deferred tax net			7,649,371				6,654,890
Valuation allowance			(7,649,371	)			(6,654,890	)