Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Deferred Tax Assets

Components of deferred tax assets are as follows:

 

    December 31,
2019
    December 31,
2018
 
Net deferred tax assets – Non-current:                
                 
Expected income tax benefit from NOL carry-forwards   $ 2,002,427     $ 291,359  
Less valuation allowance     (2,002,427 )     (291,359 )
Deferred tax assets, net of valuation allowance   $ -     $ -  

Schedule of Effective Income Tax Rate

A reconciliation of the federal statutory income tax rate and the effective income tax rate as a percentage of income before income taxes is as follows:

 

    For the Year
Ended
December 31,
2019
    For the Year
Ended
December 31,
2018
 
             
Federal statutory income tax rate     21.0 %     21.0 %
                 
Change in valuation allowance on net operating loss carry-forwards     (21.0 )%     (21.0 )%
                 
Effective income tax rate     0.0 %     0.0 %