INCOME TAXES

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE J - INCOME TAXES

The provision for (benefit from) income taxes differs from the amount computed by applying the statutory United States federal income tax rate for the periods presented to income (loss) before income taxes. The income tax rate was 21% for the periods presented. The sources of the difference are as follows:

	Three Months Ended						Six Months Ended
	June 30, 2023 (Unaudited)			June 30, 2022 (Unaudited)			June 30, 2023 (Unaudited)			June 30, 2022 (Unaudited)
Expected tax at 21%	$	(223,244	)	$	(141,452	)	$	(267,454	)	$	(245,907	)
Non-deductible stock-based compensation		179,387			6,179			179,387			36,683
Non-deductible (non-taxable) derivative liability expense (income)		(2,099	)		17,454			(3,667	)		(129,079	)
Non-deductible amortization of debt discounts		-			56,592			2,625			178,972
Non-deductible loss on conversions of notes payable and accrued interest		4,809			17,869			11,509			48,523
Increase (decrease) in Valuation allowance		41,147			43,358			77,600			110,808
Provision for (benefit from) income taxes	$	-		$	-		$	-		$	-

All tax years remain subject to examination by the Internal Revenue Service.

Based on management’s present assessment, the Company has not yet determined it to be more likely than not that a deferred tax asset attributable to the future utilization of the net operating loss carryforward as of June 30, 2023 and December 31, 2022 will be realized. Accordingly, the Company has provided a 100% and 100% allowance against the deferred tax asset in the financial statements at June 30, 2023 and December 31, 2022. The Company will continue to review this valuation allowance and make adjustments as appropriate.

The net operating loss carryforward at June 30, 2023 for the years 2003 to 2017 expires in varying amounts from year 2023 to year 2037.

Current tax laws limit the amount of loss available to be offset against future taxable income when a substantial change in ownership occurs. Therefore, the amount available to offset future taxable income may be limited.