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Income Taxes
3 Months Ended
Sep. 30, 2017
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, 2017, the Company had net operating loss carryovers of $57,228,205 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.