Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.3.1.900
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of components of income tax expense benefit

The components of the provision (benefit) for income taxes are as follows:

 

    Years Ended December 31,  
    2015     2014  
CURRENT                
Federal   $ -     $ -  
State     -       -  
Total current tax provision     -       -  
                 
DEFERRED                
Federal     -       -  
State     -       -  
Total deferred tax provision     -       -  
Total tax provision (benefit)   $ -     $ -
Schedule of deferred tax assets

The components of deferred taxes are as follows:

 

Deferred Tax Assets:

 

Net operating loss carry-forward   $ (2,139,554 )   $ (1,862,067 )
Less: valuation allowance     (2,139,554 )     (1,862,067 )
Deferred tax assets     -       -  
Deferred tax liabilities     -       -  
                 
Net deferred tax asset   $ -     $ -  
Schedule of expected income tax

The difference between the expected income tax expense (benefit) and the actual tax expense (benefit) computed by using the Federal statutory rate of 34% is as follows:

 

    Year Ended December 31,  
    2015     2014  
             
Expected income tax benefit (loss) at statutory rate of 34%   $ 117,505     $ 194,315  
State and local tax benefit, net of federal     24,538       40,578  
Change in valuation account     (142,043 )     (234,893 )
                 
Income tax expense (benefit)   $ -     $ -