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Envision Solar International, Inc. – ‘10-K’ for 12/31/19 – ‘R24’

On:  Monday, 3/30/20, at 4:16pm ET   ·   For:  12/31/19   ·   Accession #:  1683168-20-1022   ·   File #:  1-38868

Previous ‘10-K’:  ‘10-K’ on 3/20/19 for 12/31/18   ·   Next:  ‘10-K/A’ on 5/5/20 for 12/31/19   ·   Latest:  ‘10-K/A’ on 4/29/24 for 12/31/23   ·   6 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/30/20  Envision Solar Int’l, Inc.        10-K       12/31/19   79:4.5M                                   GlobalOne Filings Inc/FA

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    538K 
 2: EX-4.1      Description of Our Securities                       HTML     26K 
 3: EX-31.1     Certification -- §302 - SOA'02                      HTML     27K 
 4: EX-31.2     Certification -- §302 - SOA'02                      HTML     27K 
 5: EX-32.1     Certification -- §906 - SOA'02                      HTML     22K 
 6: EX-32.2     Certification -- §906 - SOA'02                      HTML     22K 
51: R1          Document and Entity Information                     HTML     61K 
29: R2          Balance Sheets                                      HTML    128K 
37: R3          Balance Sheets (Parenthetical)                      HTML     48K 
77: R4          Statements of Operations                            HTML     63K 
52: R5          Statements of Operations (Parenthetical)            HTML     24K 
30: R6          Statements of Changes in Stockholders' Equity       HTML     71K 
                (Deficit)                                                        
38: R7          Statements of Cash Flows                            HTML    138K 
75: R8          1. Corporate Organization, Nature of Operations     HTML     72K 
                and Summary of Significant Accounting Policies                   
54: R9          2. Liquidity                                        HTML     27K 
68: R10         3. Accounts Receivable, and Deferred Revenue        HTML     26K 
62: R11         4. Prepaid Expenses and Other Current Assets        HTML     27K 
16: R12         5. Inventory                                        HTML     28K 
43: R13         6. Property and Equipment                           HTML     31K 
69: R14         7. Accrued Expenses                                 HTML     28K 
63: R15         8. Convertible Line of Credit                       HTML     36K 
17: R16         9. Convertible Note Payable - Related Party         HTML     29K 
44: R17         10. Convertible Notes Payable                       HTML     49K 
70: R18         11. Note Payable                                    HTML     30K 
61: R19         12. Auto Loan                                       HTML     24K 
23: R20         13. Commitments and Contingencies                   HTML     30K 
31: R21         14. Common Stock                                    HTML     51K 
72: R22         15. Stock Options and Warrants                      HTML     73K 
48: R23         16. Revenues                                        HTML     29K 
24: R24         17. Income Taxes                                    HTML     41K 
32: R25         18. Related Party Transactions                      HTML     44K 
73: R26         19. Subsequent Events                               HTML     26K 
49: R27         1. Corporate Organization, Nature of Operations     HTML    141K 
                and Summary of Significant Accounting Policies                   
                (Policies)                                                       
22: R28         4. Prepaid Expenses and Other Current Assets        HTML     26K 
                (Tables)                                                         
33: R29         5. Inventory (Tables)                               HTML     29K 
47: R30         6. Property and Equipment (Tables)                  HTML     29K 
19: R31         7. Accrued Expenses (Tables)                        HTML     27K 
60: R32         10. Convertible Notes Payable (Tables)              HTML     31K 
67: R33         14. Common Stock (Tables)                           HTML     28K 
46: R34         15. Stock Options and Warrants (Tables)             HTML     70K 
18: R35         16. Revenues (Tables)                               HTML     27K 
59: R36         17. Income Taxes (Tables)                           HTML     38K 
66: R37         1. Corporate Organization, Nature of Operations     HTML     74K 
                and Summary of Significant Accounting Policies                   
                (Details Narrative)                                              
45: R38         2. Liquidity (Details Narrative)                    HTML     36K 
20: R39         3. Accounts Receivable, and Deferred Revenue        HTML     27K 
                (Details Narrative)                                              
36: R40         4. Prepaid Expenses and Other Current Assets        HTML     36K 
                (Details)                                                        
26: R41         5. Inventory (Details)                              HTML     35K 
56: R42         6. Property and Equipment (Details)                 HTML     41K 
79: R43         6. Property and Equipment (Details Narrative)       HTML     27K 
35: R44         7. Accrued Expenses (Details)                       HTML     46K 
25: R45         8. Convertible Line of Credit (Details Narrative)   HTML     74K 
55: R46         9. Convertible Note Payable - Related Party         HTML     39K 
                (Details Narrative)                                              
78: R47         10. Convertible Notes Payable (Details -            HTML     42K 
                Convertible notes payable)                                       
34: R48         10. Convertible Notes Payable (Details Narrative)   HTML     49K 
27: R49         11. Note Payable (Details Narrative)                HTML     67K 
14: R50         12. Auto Loan (Details Narrative)                   HTML     29K 
40: R51         13. Commitments and Contingencies (Details          HTML     32K 
                Narrative)                                                       
64: R52         14. Common Stock (Details)                          HTML     43K 
57: R53         14. Common Stock (Details Narrative)                HTML    136K 
15: R54         15. Stock Options and Warrants                      HTML     37K 
                (Details-Assumptions)                                            
41: R55         15. Stock Options and Warrants (Details-Option      HTML     57K 
                Activity)                                                        
65: R56         15. Stock Options and Warrants (Details-Options     HTML     61K 
                Outstanding and Exercisable)                                     
58: R57         15. Stock Options and Warrants (Details-Warrant     HTML     53K 
                Activity)                                                        
13: R58         15. Stock Options and Warrants (Details Narrative)  HTML     72K 
42: R59         16. Revenues (Details)                              HTML     28K 
74: R60         16. Revenues (Details Narrative)                    HTML     29K 
53: R61         17. Income Taxes (Details-Tax Expense)              HTML     44K 
28: R62         17. Income Taxes (Details-Deferred tax assets and   HTML     65K 
                liabilities)                                                     
39: R63         17. Income Taxes (Details Narrative)                HTML     41K 
76: R64         18. Related Party Transactions (Details Narrative)  HTML    104K 
71: XML         IDEA XML File -- Filing Summary                      XML    141K 
21: EXCEL       IDEA Workbook of Financial Reports                  XLSX     92K 
 7: EX-101.INS  XBRL Instance -- evsi-20191231                       XML   1.09M 
 9: EX-101.CAL  XBRL Calculations -- evsi-20191231_cal               XML    198K 
10: EX-101.DEF  XBRL Definitions -- evsi-20191231_def                XML    583K 
11: EX-101.LAB  XBRL Labels -- evsi-20191231_lab                     XML    931K 
12: EX-101.PRE  XBRL Presentations -- evsi-20191231_pre              XML    847K 
 8: EX-101.SCH  XBRL Schema -- evsi-20191231                         XSD    138K 
50: ZIP         XBRL Zipped Folder -- 0001683168-20-001022-xbrl      Zip    133K

‘R24’   —   17. Income Taxes

This is an IDEA Financial Report.  [ Alternative Formats ]

 
v3.20.1
17. INCOME TAXES
 12 Months Ended
Income Tax Disclosure [Abstract]  
INCOME TAXES

17. INCOME TAXES

 

There was no Federal income tax expense for the years ended December 31, 2019 and 2018 due to the Company’s net losses. Income tax expense represents minimum state taxes due.

 

The blended Federal and State tax rate of 27.98% applies to loss before taxes. The Company’s tax expense differs from the “expected” tax expense for Federal income tax purposes, (computed by applying the United States Federal tax rate of 21% to loss before taxes), as follows:

 

   Year ended December 31, 
   2019   2018 
Computed “expected” tax expense (benefit)  $(826,124)  $(755,744)
State taxes, net of federal benefit   (271,629)   (251,217)
Non-deductible stock options   2,700,494    – 
Non-deductible items   998    (74,120)
True-up to tax return   5,073    – 
Change in deferred tax asset valuation allowance   (1,605,712)   1,081,081 
Income tax expense  $3,100   $– 

  

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities at December 31, are as follows:

 

   2019   2018 
Deferred tax assets:          
Charitable contributions  $–   $2,900 
Reserve for bad debt   680    17,805 
Stock options   760,763    3,448,014 
Deferred Revenue   24,077    233,883 
Depreciation   –    22,937 
Other   59,947    19,661 
Net operating loss carryforward   8,996,569    7,755,622 
Total gross deferred tax assets   9,842,036    11,500,822 
Less: Deferred tax asset valuation allowance   (9,827,176)   (11,432,888)
Total net deferred tax assets   14,860    67,934 
           
Deferred tax liabilities:          
Accrued salaries   –    (67,934)
Depreciation   (14,860)   – 
Total deferred tax liabilities   (14,860)   (67,934)
Total net deferred taxes  $–   $– 

  

As a result of the Company’s history of incurring operating losses, a full valuation allowance has been established. The valuation allowance at December 31, 2019 was $9,827,176. The increase in the valuation allowance during 2019 was $1,605,712.

 

At December 31, 2019, the Company has a net operating loss carry forward of $32,153,569, of which $24,862,803 is available to offset future net income through 2037. The NOL expires during the years 2019 to 2037 and $7,290,766 may be carried forward indefinitely. The utilization of the net operating loss carryforwards is dependent upon the ability of the Company to generate sufficient taxable income during the carryforward period. In the event that a significant change in ownership of the Company occurs as a result of the Company’s issuance of common stock, the utilization of the NOL carry forward will be subject to limitation under certain provisions of the Internal Revenue Code. Management does not presently believe that such a change has occurred.

 

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:3/30/208-K
For Period end:12/31/1910-K/A,  NT 10-K
12/31/1810-K
 List all Filings 

6 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 3/31/23  Beam Global                       10-K       12/31/22   73:5.3M                                   GlobalOne Filings Inc/FA
 9/16/22  Beam Global                       S-1                   15:783K                                   GlobalOne Filings Inc/FA
 3/31/22  Beam Global                       10-K       12/31/21   69:4.9M                                   GlobalOne Filings Inc/FA
 3/30/21  Beam Global                       10-K       12/31/20   80:4.4M                                   GlobalOne Filings Inc/FA
11/27/20  Beam Global                       424B5      11/25/20    1:255K                                   GlobalOne Filings Inc/FA
 8/27/20  Beam Global                       S-8         8/27/20    3:93K                                    GlobalOne Filings Inc/FA
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Filing Submission 0001683168-20-001022   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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