Note 2 - Income Taxes

9 Months Ended

Sep. 30, 2021

Income Tax Disclosure [Abstract]

Note 2 - Income Taxes

Note 2 - Income Taxes

The corporate tax rates is 21%. The Company provided a valuation allowance equal to the deferred tax amounts resulting from the tax losses in the United States, as it is not likely that they will be realized.

The U.S. tax losses can be carried forward for 15 to 20 years to offset future taxable income and expire beginning in years 2021.  The Company had net operating losses of $20,746,148 at September 30, 2021.

The provision for income taxes for the nine months ended September 30, 2021 and 2020 are summarized as follows:

	2021			2020
Income tax – current	$	(6,237	)	$	(6,223)
Income tax – deferred		6,237			6223
	$	-		$	-

The Company has deferred tax assets (liabilities) at September 30, 2021 and December 31, 2020 as follows:

	2021			2020
Net operating loss carryforwards	$	4,355,000		$	4,355,000
Valuation allowance		(4,355,000	)		(4,355,000	)
	$	-		$	-