Annual report pursuant to Section 13 and 15(d)

8. Income Taxes (Details - Deferred Tax Assets)

v3.19.1
8. Income Taxes (Details - Deferred Tax Assets) - USD ($)
Dec. 31, 2018
Dec. 31, 2017
Deferred tax assets:    
U.S. federal net operating loss carryforwards $ 3,184,691 $ 2,606,017
IPR&D 6,108,078 6,776,473
Share-based compensation 1,859,357 1,527,615
Enhanced research and development tax credits 1,109,026 1,060,200
U.S. state net operating loss carryforwards 1,298,745 1,057,856
Accrued expenses 59,979 198,067
Depreciation 3,283 1,948
Other 0 0
Total deferred tax assets before valuation allowance 23,484,898 22,764,939
Valuation allowance for deferred tax assets (23,484,898) (22,764,939)
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 8,039,343 7,641,719
Foreign capital loss carryforwards 1,298,303 1,378,643
GERMANY [Member]    
Deferred tax assets:    
Foreign net operating loss carryforwards $ 524,093 $ 516,401