Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Taxes on Income (Tables)

v3.23.1
Taxes on Income (Tables)
12 Months Ended
Dec. 31, 2022
Taxes on Income [Abstract]  
Schedule of deferred tax assets
    December 31,  
    2022     2021  
Deferred tax assets            
Operating loss carry forward   $ 10,579,957     $ 10,204,294  
Temporary differences     189,099       126,150  
      10,769,056       10,330,444  
Deferred tax liability                
Beneficial conversion feature     (99,790 )     (99,790 )
                 
Total deferred tax, net     10,669,266       10,230,654  
                 
Valuation allowance     (10,669,266 )     (10,230,654 )
                 
Net deferred tax assets   $
    $
 

 

Schedule of reconciliation of tax benefit
    Year ended December 31,  
    2022     2021     2020  
                   
Loss before tax benefit   $ (4,509,547 )   $ (2,518,864 )   $ (12,543,737 )
                         
Statutory tax rate     23 %     23 %     23 %
                         
Income tax benefit     1,037,196       579,339       2,885,060  
Effect of:                        
Losses and timing differences for which valuation allowance was provided, net     (438,612 )     (463,784 )     (329,578 )
Non-deductible expenses and other permanent differences     (624,299 )     (196,980 )     (2,526,808 )
Other     25,715       81,425       (28,674 )
                         
Income tax expense recognized in profit or loss   $
    $
    $