Annual report pursuant to Section 13 and 15(d)

9. Income Taxes (Details - Deferred Tax Assets)

v3.20.1
9. Income Taxes (Details - Deferred Tax Assets) - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Deferred tax assets:    
U.S. federal net operating loss carryforwards $ 3,857,973 $ 3,184,691
IPR&D 6,454,240 6,108,078
Share-based payments 2,065,735 1,859,357
Enhanced research and development tax credits 1,219,815 1,109,026
U.S. state net operating loss carryforwards 1,160,983 1,298,745
Transaction costs 142,013 0
Accrued expenses 72,503 59,979
Depreciation 5,070 3,283
Lease liability 5,475 0
Total deferred tax assets before valuation allowance 25,878,322 23,484,898
Valuation allowance for deferred tax assets (25,872,547) (23,484,898)
Net deferred tax assets 5,475 0
Deferred tax liability:    
Indefinite-lived intangible asset (2,918,518) (2,918,518)
Right of use asset - leases (5,475) 0
Total deferred tax liabilities (2,923,993) (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 8,984,851 8,039,343
Foreign capital loss carryforwards 1,340,302 1,298,303
SWITZERLAND [Member]    
Deferred tax assets:    
Foreign net operating loss carryforwards 23,510 0
GERMANY [Member]    
Deferred tax assets:    
Foreign net operating loss carryforwards $ 545,852 $ 524,093