Income Taxes

3 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Note 4 - Income Taxes

The Company accounts for corporate income taxes in accordance with FASB ASC 740-10 “Income Taxes”. FASB ASC 740-10 requires an asset and liability approach for financial accounting and reporting for income tax purposes. As of September 30, 2016, the Company had net operating loss carryovers of $56,455,766 which can be used to reduce future taxable income. No deferred tax benefit has been recorded related to these carryovers as utilization cannot be reasonable assured.