3. Income Taxes: A Reconciliation of Our Effective Income Tax Rate Compared To The U.s. Federal Statutory Rate Is As Follows (Tables)

12 Months Ended

Dec. 31, 2012

Tables/Schedules

A Reconciliation of Our Effective Income Tax Rate Compared To The U.s. Federal Statutory Rate Is As Follows:

A reconciliation of our effective income tax rate compared to the U.S. federal statutory rate is as follows:

	Year ended December 31, 2012	Year ended December 31, 2011
Provision (benefit) at U.S. federal statutory rate	(35.0)%	(34.0)%
State provision (benefit), net of U.S. federal tax	(4.8)	(4.9)
Permanent differences	(0.2)	0.1
Expiration of capital loss carryforwards	-	-
Other items	5.2	(1.9)
Deferred tax valuation allowance	34.8	40.7
Effective income tax rate	0.0%	0.0%