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Income Taxes
3 Months Ended
Mar. 31, 2012
Income Tax Disclosure [Abstract]  
Income Taxes

 

NOTE 4. INCOME TAXES

 

No provision for federal income taxes has been recognized for the three months ended March 31, 2012 and the years ended November 30, 2011 and 2010 as the Company incurred a net operating loss for income tax purposes in each year and has no carryback potential.

 

Significant components of the Company’s deferred tax liabilities and assets as of March 31, 2012 and December 31, 2011 were as follows:

 

    March 31, 2012     December 31, 2011  
Deferred tax assets:                
Net operating loss   $ 40,961     $ 23,938  
      40,961       23,938  
Less valuation allowance     (40,961 )     (23,938 )
    $ -     $ -  

 

The Company has provided a full valuation allowance for net deferred tax assets as it is more likely than not that these assets will not be realized.

 

At March 31, 2012, the Company had net operating loss carryforwards of approximately $120,474 for federal income tax purposes. These net operating loss carryforwards begin to expire in 2024.