11. Income Taxes:

6 Months Ended

Jun. 30, 2015

Notes to Financial Statements

11. Income Taxes:

No tax benefit has been recognized for the loss in the 2015 and 2014 periods as the Company has provided a valuation allowance to fully offset the related deferred tax asset for the loss carryforward as realization of such asset is not considered more likely than not due to cumulative losses incurred by the Company and its subsidiaries during the prior three years.