INCOME TAXES

6 Months Ended

Jun. 30, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

The Company does not have significant income tax expense or benefit for the six months ended June 30, 2017 or 2016. Tax net operating loss carryforwards have resulted in a net deferred tax asset with a 100% valuation allowance applied against such asset at June 30, 2017 and 2016. Such tax net operating loss carryforwards (“NOL”) approximated $35.5 million at June 30, 2017. Some or all of such NOL may be limited by Section 382 of the Internal Revenue Code.

The income tax effect of temporary differences between financial and tax reporting and net operating loss carryforwards gives rise to a deferred tax asset at June 30, 2017 and 2016 as follows:

	2017			2016
Deferred tax asset –NOL’s	$	14,200,000		$	13,000,000
Less valuation allowance		(14,200,000	)		(13,000,000	)
Net deferred tax asset	$	-		$	-