Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.6.0.2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Taxes [Abstract]  
Components of deferred tax assets and liabilities
    2016     2015  
Deferred tax assets:                
Net operating losses carry forward   $ 38,874,255     $ 24,008,932  
Share-based compensation     8,081,711       6,197,439  
Others     846,415       -    
Less: valuation allowance     (47,802,380 )     (28,910,183 )
                 
Deferred tax assets, net   $ -       $ -
Schedule of difference between income tax provision and U.S federal statutory rate
    For the year ended  
    December 31, 2016     December 31, 2015     December 31, 2014  
                                     
Federal income taxes at 34%   $ (8,269,386 )     (34.00 )%   $ (7,148,607 )     (34.00 )%   $ (8,393,753 )     (34.00 )%
Deferred true-up     (5,946,655 )     (24.45 )%     1,104,763       5.25 %     2,885,487       11.69 %
Research and Development Tax Credit     (141,769 )     (0.58 )%     -       - %     -       - %
Unrealized derivative gain/loss     (860,460 )     (3.54 )%                                
Other     12,259       0.05 %     -       - %     526,224       2.13 %
Change in valuation allowance     15,206,011       62.52 %     6,043,844       28.75 %     4,982,042       20.18 %
                                                 
Provision for income tax   $ -       -     $ -       -     $ -       -