Income Taxes (Tables)
|
12 Months Ended |
Feb. 03, 2019 |
Income Tax Disclosure [Abstract] |
|
Schedule of deferred income taxes |
|
|
2019 |
|
|
2018 |
|
|
|
|
|
|
|
|
Deferred Income Tax Assets |
|
|
|
|
|
|
Federal net operating loss carryforward |
|
$ |
708,865 |
|
|
$ |
9,211,499 |
|
State net operating loss carryforward |
|
|
130,924 |
|
|
|
2,130,112 |
|
Intangible assets |
|
|
248,731 |
|
|
|
318,158 |
|
Accrued liabilities |
|
|
1,139,686 |
|
|
|
515,392 |
|
Equity based compensation |
|
|
171,120 |
|
|
|
38,807 |
|
Property and equipment |
|
|
1,165,359 |
|
|
|
985,871 |
|
Merchandise inventories |
|
|
154,599 |
|
|
|
63,415 |
|
Total Deferred Income Tax Assets |
|
|
3,719,284 |
|
|
|
13,263,254 |
|
Valuation Allowance |
|
|
(3,719,284 |
) |
|
|
(13,263,254 |
) |
Net Deferred Income Tax Asset |
|
$ |
- |
|
|
$ |
- |
|
|
Schedule of statutory federal income tax rate |
|
|
2019 |
|
|
2018 |
|
(Benefit) at Federal Statutory rates |
|
$ |
(1,397,881 |
) |
|
$ |
(1,861,772 |
) |
Permanent adjustments |
|
|
406,674 |
|
|
|
62,491 |
|
State tax, net of Federal benefit |
|
|
(15,086 |
) |
|
|
(265,277 |
) |
Change in Federal rate from 34% to 21% |
|
|
- |
|
|
|
6,658,540 |
|
Federal True-ups |
|
|
(175,845 |
) |
|
|
(403,322 |
) |
Uncertain tax positions – NOLS |
|
|
10,753,384 |
|
|
|
- |
|
Change in valuation allowance |
|
|
(9,554,839 |
) |
|
|
(4,164,660 |
) |
Income tax provision |
|
$ |
16,407 |
|
|
$ |
26,000 |
|
|
|
2019 |
|
|
2018 |
|
(Benefit) at Federal Statutory rates |
|
|
(21.0 |
%) |
|
|
(34.0 |
%) |
Permanent adjustments |
|
|
6.1 |
% |
|
|
1.1 |
% |
State tax, net of Federal benefit |
|
|
(0.2 |
%) |
|
|
(4.8 |
%) |
Change in Federal rate from 34% to 21% |
|
|
- |
|
|
|
121.6 |
% |
Federal True-ups |
|
|
(2.6 |
%) |
|
|
(7.3 |
%) |
Uncertain tax positions- NOLS |
|
|
161.5 |
% |
|
|
- |
|
Change in valuation allowance |
|
|
(143.5 |
%) |
|
|
(76.1 |
%) |
Income tax (benefit) provision |
|
|
0.3 |
% |
|
|
0.5 |
% |
|
Schedule of federal, state and local corporate income taxes |
|
|
2019 |
|
|
2018 |
|
Current taxes: |
|
|
|
|
|
|
U.S. federal |
|
$ |
- |
|
|
$ |
- |
|
State and local |
|
|
16,407 |
|
|
|
26,000 |
|
Total current tax expense (benefit) |
|
$ |
16,407 |
|
|
$ |
26,000 |
|
|
|
|
|
|
|
|
|
|
Deferred taxes: |
|
|
|
|
|
|
|
|
U.S. federal |
|
$ |
- |
|
|
$ |
- |
|
State and local |
|
|
- |
|
|
|
- |
|
Total deferred tax expense (benefit) |
|
|
- |
|
|
|
- |
|
Total tax (benefit) provision |
|
$ |
16,407 |
|
|
$ |
26,000 |
|
|
Schedule of unrecognized tax benefits |
|
|
2019 |
|
|
2018 |
|
Beginning balance |
|
$ |
- |
|
|
$ |
- |
|
Additions for tax positions acquired |
|
|
- |
|
|
|
- |
|
Additions for tax positions related to current year |
|
|
10,753,384 |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
Tax positions of prior years: |
|
|
|
|
|
|
|
|
Payments |
|
|
- |
|
|
|
- |
|
Settlements |
|
|
- |
|
|
|
- |
|
Due to lapsed SOL |
|
|
- |
|
|
|
- |
|
Ending balance |
|
$ |
10,753,384 |
|
|
$ |
- |
|
|