General form of registration statement for all companies including face-amount certificate companies

Note 4 - Income Taxes (Tables)

v3.22.2.2
Note 4 - Income Taxes (Tables)
12 Months Ended
Sep. 30, 2021
Notes Tables  
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

   

2021

     

2020

 

Net operating loss carryforwards

  $ 10,022,020  

  $ 8,451,214  

Capitalized expenditures

    1,703,849  

    1,782,185  

Research and experimentation credit carryforwards

    946,158  

    928,734  

Stock based compensation

    2,352,432  

    2,321,519  

Property and Equipment

    2,740  

    3,152  

Accrued expenses

    57,812  

    18,518  

Inventory allowance

    62,946         16,497  

Gross deferred tax assets

    15,147,957  

    13,521,819  

Deferred tax asset valuation allowance

    (15,147,957

)

    (13,521,819  

 

 

       

Net deferred tax assets

  $ -  

  $ -  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

 

 

 

2021

 

2020

 

Expected income tax (benefit) at federal statutory rate

  21.00

%

  21.00

%

 

 

Increase/(Decrease) due to:

       

 

State Taxes - Net of federal benefit

  5.80

%

  7.08

%

 

 

Permanent Differences:

       

 

Key man life insurance

  (0.01

)%

  (0.01

)%

R&D, taken as a credit

  (0.29

)%

  (0.51

)%

Adjustment to fair value of derivative

  0.37

%

  3.04

%

PPP Loan Forgiveness

  0.60

%

  0.00

%

Other

  (1.41

)%

  0.51

%

Change in Valuation Allowance

  (26.06

)%

  (31.11

)%

Total Income Tax Provision / Benefit

  -

%

  -

%