Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Significant components of the Company’s deferred income taxes at December 31, 2021 and 2020 are shown below (table in thousands):

	2021			2020
Deferred tax assets:
Net operating loss carryforwards (i)(ii)	$	19,993		$	17,240
Compensation		846			837
Research and development tax credits (iii)		2,423			2,182
Other		466			311
Total deferred tax assets		23,728			20,570

Deferred tax liabilities:
Property and equipment		(21	)		(20	)
Other		(105	)		(107	)
Total deferred tax liabilities		(126	)		(127	)

Total deferred taxes, net		23,602			20,443
Valuation allowance		(23,602	)		(20,443	)

Deferred tax liability, net	$	-		$	-

A reconciliation of the federal statutory income tax rate to the Company’s effective income tax rate is as follows:

	2021			2020

Statutory federal income tax rate		21.0	%		21.0	%
Goodwill impairment		0	%		0	%
Change in valuation allowance		(22.3	)%		(22.5	)%
Other tax, credit and adjustments		1.3	%		1.5	%
Effective income tax rate		0.0	%		0.0	%