Income Taxes (Details Narrative) - USD ($) |
11 Months Ended | 12 Months Ended | ||
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Jun. 21, 2017 |
Oct. 31, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
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Net operating losses expiration term | If the federal net operating losses are not utilized, they begin to expire in 2028, and current state net operating losses not utilized begin to expire this year. | |||
Number of common stock issued, shares | 9,900,000 | |||
Unrecognized tax benefits | $ 800,000 | $ 1,100,000 | ||
Income tax examination penalties and interest expense | 200,000 | 200,000 | ||
Income tax examination penalties and interest accrued | $ 3,000,000 | $ 2,800,000 | ||
Income tax examination, description | The Tax Cuts and Jobs Act (the "TCJA") was enacted on December 22, 2017 and became effective for tax years beginning after December 31, 2017. The TCJA had significant changes to U.S. tax law, lowering U.S. corporate income tax rates, implementing a territorial tax system, imposing a one-time transition tax on deemed repatriated earnings of foreign subsidiaries and modified the taxation of other income and expense items. The TCJA reduces the U.S. corporate income tax rate from 34% to 21%, effective January 1, 2018. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. As a result of the reduction in the U.S. corporate income tax rate from 34% to 21% under the TCJA, we revalued deferred tax assets, net as of December 31, 2017. | |||
US corporate tax percentage | 21.00% | 34.00% | ||
Deferred tax assets | $ 22,768,303 | $ (8,232,000) | ||
Valuation allowance | 22,768,303 | $ (42,165,000) | ||
Five Equity Offerings [Member] | ||||
Number of common stock issued, shares | 26,000,000 | |||
Federal [Member] | ||||
Operating loss carryforwards | 186,700,000 | |||
State and Local Jurisdiction [Member] | ||||
Operating loss carryforwards | $ 80,300,000 |
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- Definition Net operating losses expiration term. No definition available.
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- Definition Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, netted by jurisdiction and classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of valuation allowance of deferred tax asset attributable to deductible temporary differences and carryforwards, classified as current. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition A brief description of status of the tax examination, significant findings to date, and the entity's position with respect to the findings. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of estimated penalties and interest accrued as of the balance sheet date arising from income tax examinations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The sum of the amounts of estimated penalties and interest recognized in the period arising from income tax examinations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of operating loss carryforward, before tax effects, available to reduce future taxable income under enacted tax laws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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