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INCOME TAXES
9 Months Ended
Sep. 30, 2013
Income Tax Disclosure [Abstract]  
INCOME TAXES

NOTE 4 – INCOME TAXES

 

Income tax expense was $0 for the three and nine months ended September 30, 2013 and 2012.

 

As of December 31, 2012, the Company had net operating loss carry forwards approximating $8.3 million.

 

As of January 1, 2013, the Company had no unrecognized tax benefits, and accordingly, the Company did not recognize interest or penalties during 2013 related to unrecognized tax benefits. There has been no change in unrecognized tax benefits during the nine months ended September 30, 2013, and there was no accrual for uncertain tax positions as of September 30, 2013. Tax years from 2009 through 2012 remain subject to examination by major tax jurisdictions.

 

There is no income tax benefit for the income for the three months ended September 30, 2013 and for the losses for the nine months ended September 30, 2013 and 2012, since management has determined that the realization of the net tax deferred asset is not assured and has created a valuation allowance for the entire amount of such benefits.