Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Schedule of Deferred Income Tax Assets

Deferred tax assets consisted of the following as of:

 

    December 31, 2014     December 31, 2013  
             
Net operating loss carry forwards   $ 5,090,000     $ 3,651,550  
Valuation allowance     (5,090,000 )     (3,651,550 )
    $ -     $ -  

Schedule of Effective Statutory Federal Tax Rate

The reconciliation of the results of applying the Company’s effective statutory federal tax rate of 35% for the years ended December 31, 2014 and 2013 to the Company’s provision for income taxes follows:

 

    December 31, 2014     December 31, 2013  
Federal income tax rate     31.8 %     34 %
State income tax     6.5 %     8 %
Charge for deferred tax asset     (38.3) %     (42) %
      - %     - %