Annual report pursuant to Section 13 and 15(d)

Income Tax (Tables)

v3.20.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Effective Income Tax Rate

The effective income tax rate for the year ended December 31, 2019 and the period from inception (March 27, 2018) to December 31, 2018 consisted of the following:

 

    December 31,  
    2019     2018  
Federal statutory income tax rate     21 %     21 %
State income taxes     -     -
Change in valuation allowance     (21 )%     (21 )%
Net effective income tax rate     -       -  

Schedule of Deferred Tax Asset

The components of the Company’s deferred tax asset are as follows:

 

    December 31,  
    2019     2018  
Deferred tax assets:                
Net operating loss carry forwards   $ 908,350     $ 316,260  
                 
Net deferred tax assets before valuation allowance   $ 908,350     $ 316,260  
Less: Valuation allowance     (908,350 )     (316,260 )
Net deferred tax assets   $ -     $ -