• Filing Date: 2015-04-09
  • Form Type: 10-K
  • Description: Annual report
v2.4.1.9
11. INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2014
Income Taxes Tables  
Schedule of deferred tax assets
    2014     2013  
34% of net operating loss carry forwards   $ 10,968,027     $ 9,948,987  
Valuation allowance     (10,968,027 )     (9,948,987 )
Net non-current deferred tax asset     -       -  
Schedule of federal statutory rate
    2014     2013  
Expected federal income tax benefit   $ 774,580     $ 1,410,350  
Change in valuation allowance     (1,019,040 )     (734,830 )
Goodwill amortization     142,386       -  
Derivative gain     26,569       124,269  
Amortization of beneficial conversion discount     (47,008 )     (290,411 )
Other     300,706       198,464  
Stock-based compensation     (178,193 )     (707,842 )
Income tax expense (benefit)   $ -     $ -