• Filing Date: 2018-04-17
  • Form Type: 10-K
  • Description: Annual report
v3.8.0.1
6. INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax Disclosure [Abstract]  
Provision for income taxes
    2017    2016 
Current:          
Federal  $     
State        
         
Deferred:          
Federal        
State        
   $   $ 
Schedule of deferred income taxes
   YEARS ENDED DECEMBER 31, 
   2017   2016 
Net operating loss carry-forwards  $(24,351,000)  $(20,261,000)
Stock based compensation – options/warrants   3,778,000    3,540,000 
Stock issued for services   971,000    971,000 
Gain on derivative instrument   (2,361,000)   (1,011,000)
Disallowed entertainment expense   59,000    56,000 
Charitable contribution limitation   11,000    11,000 
Preferred Stock   39,000    39,000 
Bad debt expense & reserves   47,000    47,000 
Penalties   1,000    1,000 
Loss on extinguishment of debt   1,743,000    114,000 
Beneficial conversion features   119,000    119,000 
Mobiquity-Spain – net loss   830,000    830,000 
Impairment of long lived assets   89,000    89,000 
Stock issued for interest   376,000     
Nondeductible insurance   10,000     
Stock incentives   24,000     
Derivative expense   514,000     
Amortization of debt discount   2,246,000    1,311,000 
Deferred Tax Assets   (15,855,000)   (14,144,000)
Less Valuation Allowance   15,855,000    14,144,000 
Net Deferred Tax Asset  $   $ 
Reconciliation of federal statutory rate
   YEARS ENDED DECEMBER 31, 
   2016   2015 
Federal Statutory Tax Rate   34.00%    34.00% 
State Taxes, net of Federal benefit   6.00%    6.00% 
Change in Valuation Allowance   (40.00%)   (40.00%)
Total Tax Expense   0.00%    0.00%