5. Income Taxes

12 Months Ended

Dec. 31, 2015

Notes

5. Income Taxes

5.  INCOME TAXES

The components of deferred tax assets at December 31, 2015 and 2014 are as follows:

	December 31, 2015	December 31, 2014
Net operating loss carry forwards	$  144,176	$130,200
Accrued interest	324	2,700
	144,500	132,900
Less: - Valuation allowance	(144,500)	(132,900)
Total	$                 0	$          0

A 100% valuation allowance was provided at December 31, 2015 and 2014 as it is uncertain if the deferred tax assets would be utilized. The increase in the valuation allowance was a result from the increase in the Company’s net operating loss carry forward and accrued interest.

At December 31, 2015, the Company has unused federal net operating loss carry forwards of approximately $390,000 expiring between 2018 and 2035 and unused New Jersey net operating loss carry forwards of approximately $171,000 expiring between 2029 and 2035.

The Company files its federal and New Jersey income tax returns under varying statutes of limitations. The 2012 through 2015 tax years generally remain subject to examination by the federal and New Jersey tax authorities.