Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.19.3
INCOME TAXES (Tables)
12 Months Ended
Sep. 30, 2019
INCOME TAXES  
Schedule of deferred tax assets and liabilities

The principal components of the Company’s net deferred tax assets consisted of the following at September 30:

 

 

 

 

 

 

 

 

 

    

2019

    

2018

Net operating loss carryforwards

 

$

7,291,333

 

$

5,848,080

Capitalized expenditures

 

 

1,717,025

 

 

1,486,679

Research and experimentation credit carryforwards

 

 

898,610

 

 

802,765

Stock based compensation

 

 

2,139,119

 

 

2,074,247

Property and Equipment

 

 

2,234

 

 

1,235

Accrued expenses

 

 

13,660

 

 

13,660

Deferred rent

 

 

492

 

 

328

Gross deferred tax assets

 

 

12,062,473

 

 

10,226,994

Deferred tax asset valuation allowance

 

 

(12,062,473)

 

 

(10,226,994)

 

 

 

 

 

 

  

Net deferred tax assets

 

$

 —

 

$

 —