Annual report pursuant to Section 13 and 15(d)

Income Taxes (Details Narrative)

v3.21.1
Income Taxes (Details Narrative) - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Mar. 19, 2018
Net operating loss before income tax benefit $ (15,414,807) $ (3,960,592)  
Federal taxable losses 2,648,248 1,401,806  
Income tax benefit $ (1,001,019) (602,716)  
Net operating loss carryforward term P20Y    
Net operating loss carryforward, expiration date 2037    
Deferred tax liability     $ 3,037,147
Intangible assets, financial reporting basis     11,038,929
Intangible assets, tax basis     $ 1,782
Non-deductibility of the amortization of the intangible asset $ 2,433,959    
Change in valuation of allowance 2,974,703 668,584  
Deferred tax asset, acquired in-process research and development, tax affected 2,405,997  
Deferred tax asset, loss carryforwards 6,714,504 4,067,602  
Deferred tax asset, loss carryforwards, tax effected 1,847,664 1,119,302  
Federal [Member]      
Federal net operating loss carryforward 6,700,000 4,100,000  
Net operating loss carryforward 2,600,000 1,400,000  
Orphan Drug [Member]      
Income tax benefit 144,154 283,189  
Deferred tax loss carryforward 427,343 283,189  
General and Administrative [Member]      
Income tax benefit 1,345,002 1,205,811  
Income tax effected rate amount 370,111 331,809  
Deferred tax asset, start-up expenditures 4,256,064 2,909,715  
Deferred tax asset, start-up expenditures, tax effected 1,171,162 $ 800,681  
Research and Development [Member]      
Deferred tax asset, acquired in-process research and development 8,743,517    
Deferred tax asset, acquired in-process research and development, tax affected $ 2,405,997