NOTE 11 - INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the benefit (expense) for income taxes with amounts determined by applying the statutory federal income rate of 21% in 2017 and 34% in 2016 to the respective losses before income taxes is as follows:

	2017			2016
Net (Loss)	$	(1,833,728	)	$	(1,785,114	)
Benefit (expense) for income taxes computed using the statutory rate of 21% and 34%, respectively		385,083			606,939
Non-deductible expense		(212,526	)		(99,086	)
Remeasurement of deferred income taxes due to tax reform		(1,425,999	)		-
Change in valuation allowance		1,253,442			(507,853	)
Provision for income taxes	$	-		$	-

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Significant components of the Company's deferred tax liabilities and assets at December 31, 2017 and 2016 are as follows:

	2017			2016
Total deferred tax assets – net operating losses	$	2,476,950		$	3,731,181
Deferred tax liabilities
Depreciation		-			(789	)
Net deferred tax assets		2,476,950			3,730,392

Valuation allowance		(2,476,950	)		(3,730,392	)
	$	-		$	-

Summary of Operating Loss Carryforwards [Table Text Block]

As of December 31, 2017, open Federal income tax years subject to examination include the tax years ended December 31, 2016 through 2014. At December 31, 2017, net operating loss (“NOL”) carryforwards expiring through 2037 were as follows:

Expiring December 31,	Amount of NOL Expiring
2019	$	6,166,000
2026		408,000
2027		693,000
2028		771,000
2029		197,000
2030		32,000
2031		415,000
2033		692,000
2034		106,000
2036		1,493,000
2037		822,000
	$	11,795,000

Summary of Valuation Allowance [Table Text Block]

The net change in the valuation allowance is as follow:

Change in valuation allowance
2017	$	(2,476,950	)
2016		(3,730,392	)
	$	1,253,442