XML 32 R21.htm IDEA: XBRL DOCUMENT v3.3.1.900
Income taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

There was no income tax provision for the years ended December 31, 2015 and 2014.

 

    For the year ended December 31,
    2015   2014
Current   $     $  
Deferred tax benefit     (27,000 )     (23,000 )
Change in valuation allowance     27,000       23,000  
Total tax provision   $     $  

Schedule of Effective Income Tax Rate Reconcilitation

The tax provision differs from the expense that would result from applying Federal statutory rates as follows:

 

    For the year ended December 31,
    2015   2014
Tax / (benefit) at Federal statutory rate   $ (23,000 )   $ (20,000 )
State income tax / (benefit), net of Federal tax effect     (4,000 )     (3,000 )
Change in valuation allowance     27,000       23,000  
Tax provision   $     $  

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities consist of the following:

 

    At December 31,
    2015   2014
Deferred tax assets:                
Net operating loss carryovers   $ 1,031,000     $ 1,003,000  
Valuation allowance     (1,031,000 )     (1,003,000 )
Net deferred tax assets   $     $  

Schedule of Operating Loss Carryovers

The loss carryovers expire as follows:

 

Year Expiring   Net Operating Loss
2026     $ 1,551,000  
2027       364,000  
2028       248,000  
2029       81,000  
2030       52,000  
2031       39,000  
2032       61,000  
2033       54,000  
2034       57,000  
2035       68,000  
Total loss carryovers     $ 2,575,000