Post-effective amendment to a registration statement that is not immediately effective upon filing

Income Taxes (Tables)

v3.4.0.3
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Taxes [Abstract]  
Schedule of deferred tax assets

    For the Years Ended
December 31,
 
    2015     2014  
             
Current:            
Accrued expenses   $ 31,156     $ 38,900  
                 
Non-current:                
Stock compensation     132,645       90,794  
                 
Net operating loss carryforward     2,989,634       1,596,600  
                 
Research and development credit carryforward     100,480       20,890  
                 
Total deferred tax asset     3,253,915       1,747,184  
                 
Valuation allowance     (3,253,915 )     (1,747,184 )
                 
Deferred tax asset, net of valuation allowance   $ -     $ -  
Schedule of statutory federal income tax rate

    For the Years Ended
December 31,
 
    2015     2014  
U.S. statutory federal rate     (34.0 )%     (34.0 )%
State income taxes, net of federal tax benefit     (5.4 )%     (5.6 )%
Permanent differences     2.6 %     1.5 %
Prior year true-ups     - %     (0.1 )%
R&D tax credit     (2.1 )%     (0.6 )%
Change in valuation allowance     38.9 %     38.8 %
Income tax provision (benefit)     - %     - %
Schedule of income tax provision

    For the Years Ended
December 31,
 
    2015     2014  
Federal            
Current   $ -     $ -  
Deferred     (1,190,022 )     (550,708 )
State and local                
Current     -       -  
Deferred     (316,709 )     (154,199 )
Change in valuation allowance     1,506,731       704,907  
Income tax provision (benefit)   $ -     $ -