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Income Taxes
12 Months Ended
Dec. 31, 2011
Income Taxes  
Income Tax Disclosure [Text Block]

Note 21 - Income Taxes

 

Significant components of deferred tax assets are as follows:

 

 

 

Years Ended December 31,

 

 

 

2011

 

2010

 

 

 

 

 

 

 

Loss carry forwards

 

$

2,281,612

 

$

2,179,612

 

Other

 

229,720

 

229,720

 

Total deferred tax asset

 

2,5111,332

 

2,409,332

 

 

 

 

 

 

 

Valuation allowance

 

(2,511,332

)

(2,409,332

)

Total deferred tax asset, net

 

$

-

 

$

-

 

 

 As of December 31, 2011, the Company had approximately $3,100,000 of net operating loss (“NOL”) carryforwards for U.S. federal income tax purposes expiring in 2020 through 2030. In addition, the Company has California state NOL carryforwards of approximately $2,700,000 expiring in 2013 through 2020.