INCOME TAXES

9 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

INCOME TAXES

The Company did not have significant income tax expense or benefit for the nine months ended September 30, 2018 or 2017. Tax net operating loss carryforwards have resulted in a net deferred tax asset with a 100% valuation allowance applied against such asset at September 30, 2018 and 2017. Such tax net operating loss carryforwards (“NOL”) approximated $51.5 million at September 30, 2018. 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 September 30, 2018 and 2017 as follows:

	2018			2017
Deferred tax asset –NOL’s	$	10,900,000		$	15,600,000
Less valuation allowance		(10,900,000	)		(15,600,000	)
Net deferred tax asset	$	-		$	-