Annual report pursuant to Section 13 and 15(d)

10. Income Taxes (Details - Deferred Tax Assets)

v3.7.0.1
10. Income Taxes (Details - Deferred Tax Assets) - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Deferred tax assets:    
Foreign capital loss carryforwards $ 1,259,062 $ 1,775,932
U.S. federal net operating loss carryforwards 3,061,669 1,659,050
IPR&D 6,630,745 0
Share-based compensation 1,534,992 1,313,226
Enhanced research and development tax credits 796,256 852,272
U.S. state net operating loss carryforwards 749,812 422,622
Accrued expenses 174,424 44,557
Depreciation 3,673 25,823
Other 0 4,998
Total deferred tax assets before valuation allowance 21,503,782 15,902,784
Valuation allowance for deferred tax assets (21,503,782) (15,324,438)
Deferred tax liability:    
Indefinite-lived intangible asset (2,918,518) (2,918,518)
Debt discount 0 (578,346)
Total deferred tax liabilities (2,918,518) (3,496,864)
Net deferred tax assets and liabilities (2,918,518) (2,918,518)
UNITED KINGDOM [Member]    
Deferred tax assets:    
Foreign net operating loss carryforwards 6,868,717 9,402,398
Foreign capital loss carryforwards 1,259,062 1,775,932
GERMANY [Member]    
Deferred tax assets:    
Foreign net operating loss carryforwards $ 424,432 $ 401,906