NeuBase Therapeutics, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2019

Schedule of reconciliation of income taxes at the statutory federal income tax rate to net income taxes

A reconciliation of income taxes at the statutory federal income tax rate to net income taxes included in the consolidated statements of operations is as follows:


			For the Period
	For the Year		From August 28,
	Ended September		2018 (Inception) to
	30,		September 30,
	2019		2018
U.S. federal income tax expense at the statutory rate	(21.0)	%	(21.0)	%
State income taxes, net of federal taxes	(7.9)		(7.9)
Stock-based compensation	0.4		—
Ohr acquisition	12.8		—
Change in valuation allowance	15.0		28.4
Other permanent items	0.7		0.5
Income tax provision (benefit)	0	%	0	%

Schedule of components of our deferred tax assets and liabilities

The components of our deferred tax assets and liabilities are:


	September 30,
	2019		2018
Deferred tax assets
Net operating loss carryforwards	$	1,840,194	$	11,907
Stock-based compensation		2,161,121		—
Amortization		286,526		—
Total deferred tax assets		4,287,841		11,907
Deferred tax liabilities
Depreciation		(19,310)		—
Prepaid expenses		(205,116)		—
Total deferred tax liabilities		(224,426)		—
Valuation allowance		(4,063,415)		(11,907)
Net deferred tax assets, net of allowances	$	—	$	—