Schedule of net deferred tax assets |
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As of December 31, |
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2023 |
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2022 |
Deferred tax assets: |
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Net operating loss carryforwards |
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$ |
7,132,019 |
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$ |
5,692,533 |
Capitalized research and development expenditures |
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1,524,035 |
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1,873,211 |
Stock compensation |
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1,441,652 |
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1,411,624 |
Investment in partnership |
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30,639 |
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30,771 |
Amortization |
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14,049 |
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15,223 |
Gross deferred tax assets |
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10,142,394 |
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9,023,362 |
Valuation allowance |
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(9,926,772) |
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(8,682,497) |
Net deferred tax assets |
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215,622 |
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340,865 |
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Deferred tax liabilities: |
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Prepaid expenses |
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(215,622) |
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(340,865) |
Deferred tax liabilities |
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(215,622) |
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(340,865) |
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Net deferred taxes |
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$ |
— |
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$ |
— |
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