6. Income Taxes

12 Months Ended

Dec. 31, 2016

Notes

6. Income Taxes

6.   INCOME TAXES

The components of deferred tax assets at December 31, 2016 and 2015 are as follows:

	December 31, 2016	December 31, 2015
Net operating loss carry forwards	$     152,843	$144,176
Accrued interest	957	324
	153,800	144,500
Less: Valuation allowance	(153,800)	(144,500)
Total	$                 0	$              0

A 100% valuation allowance was provided at December 31, 2016 and 2015 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, 2016, the Company has unused federal net operating loss carry forwards of approximately $420,700 expiring between 2018 and 2036 and unused New Jersey net operating loss carry forwards of approximately $199,100 expiring between 2029 and 2036.

The Company files its federal and New Jersey income tax returns under varying statutes of limitations. The 2013 through 2016 tax years generally remain subject to examination by the federal and New Jersey tax authorities.