Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.22.4
Income Taxes (Tables)
12 Months Ended
Sep. 30, 2022
Income Taxes  
Schedule of components of the income tax benefits, net

For the Year Ended

September 30, 

    

2022

    

2021

Federal

 

  

 

  

Current

$

$

Deferred

 

(6,780,606)

 

(7,919,279)

State and Local

 

 

Current

 

 

Deferred

 

(2,746,540)

 

(3,015,187)

Change in valuation allowance

 

9,527,146

 

10,934,466

Income tax provision (benefit)

$

$

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

For the Year Ended September 30, 

 

    

2022

    

2021

 

U.S. federal income tax expense at the statutory rate

(21.0)

%  

(21.0)

%

State income taxes, net of federal taxes

(7.7)

(7.9)

Stock-based compensation

 

1.0

 

1.2

Return to provision adjustment

 

(0.5)

 

(14.2)

Other permanent items

 

 

(1.1)

Change in valuation allowance

 

28.2

 

43.0

Income tax provision (benefit)

 

%  

%

Schedule of components of our deferred tax assets and liabilities

    

September 30, 

2022

    

2021

Deferred tax assets

Net operating loss carryforwards

$

22,461,508

$

13,254,067

Stock-based compensation

 

4,072,264

 

3,779,555

Amortization

 

2,277,085

 

2,643,500

Service Warrant

180,276

147,168

Investment

263,073

141,098

Other

50,979

Lease liability

1,715,159

66,982

Total deferred tax assets

 

31,020,344

 

20,032,370

Deferred tax liabilities

 

 

  

Depreciation

 

(158,317)

 

(127,449)

ROU assets

(1,635,483)

Prepaid expenses

 

 

(205,523)

Total deferred tax liabilities

 

(1,793,800)

 

(332,972)

Valuation allowance

 

(29,226,544)

 

(19,699,398)

Net deferred tax assets, net of allowances

$

$