Annual report pursuant to Section 13 and 15(d)

10. Income Taxes (Details - Deferred Tax Assets)

v3.8.0.1
10. Income Taxes (Details - Deferred Tax Assets) - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Deferred tax assets:    
U.S. federal net operating loss carryforwards $ 2,606,017 $ 3,061,669
IPR&D 6,776,473 6,630,745
Share-based compensation 1,527,615 1,534,992
Enhanced research and development tax credits 1,060,200 796,256
U.S. state net operating loss carryforwards 1,057,856 749,812
Accrued expenses 198,067 174,424
Depreciation 1,948 3,673
Other 0 0
Total deferred tax assets before valuation allowance 22,764,939 21,503,782
Valuation allowance for deferred tax assets (22,764,939) (21,503,782)
Deferred tax liability:    
Indefinite-lived intangible asset (2,918,518) (2,918,518)
Debt discount 0 0
Total deferred tax liabilities (2,918,518) (2,918,518)
Net deferred tax assets and liabilities (2,918,518) (2,918,518)
UNITED KINGDOM [Member]    
Deferred tax assets:    
Foreign net operating loss carryforwards 7,641,719 6,868,717
Foreign capital loss carryforwards 1,378,643 1,259,062
GERMANY [Member]    
Deferred tax assets:    
Foreign net operating loss carryforwards $ 516,401 $ 424,432