XML 40 R32.htm IDEA: XBRL DOCUMENT v2.4.1.9
Income taxes (Tables)
12 Months Ended
Dec. 31, 2014
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets

Deferred tax assets at December 31, 2014 and 2013 consisted of the following:

 

    As of December 31,  
    2014     2013  
Deferred tax asset            
Net operating loss carryovers   $ 20,022,497     $ 17,467,761  
Total deferred tax assets     20,022,497       17,467,761  
Valuation Allowance     (20,022,497 )     (17,467,761 )
Deferred tax asset, net of allowance   $ -     $ -  
Schedule of the Reconciliation of the Expected Tax Benefit

A reconciliation of the expected tax benefit computed at the U.S. federal and state statutory income tax rates to our tax benefit is as follows:

    For the years ended  
    December 31,  
    2014     2013  
Statutory federal income tax rate     -34.0 %     -34.0 %
State taxes, net of federal tax benefit     -6.3 %     -6.3 %
Permanent differences     19.4 %     21.9 %
Valuation Allowance     20.9 %     18.4 %
Income tax provision (benefit)     0.0 %     0.0 %