NOTE 4 - INCOME TAXES

Net deferred tax assets consist of the following components:


	June 30, 2020		December 31, 2019
Net operating loss carry forwards	$	297,327	$	90,510

Change in tax rate				-
Impairment of assets		31,500		31,500
Valuation allowance		(328,827)		(122,010)
Net deferred tax asset	$	-	$	-

The income tax provision differs from the amount of income tax determined by applying the U.S. federal and state income statutory tax rates to pretax income (loss) from continuing operations as follows:


	June 30, 2020		June 30, 2019
Tax benefit at statutory rates	$	(206,796)	$	(471)
Net operating loss carryforward				-
Change in valuation allowance		206,796		471
Provision for income taxes	$	-	$	-

The Company has accumulated net operating loss carryovers of approximately $1,416,000 as of June 30, 2020 which are available to reduce future taxable income. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The tax loss carry forwards begin to expire in 2027. The fiscal years 2008 through 2019 remain open to examination by federal tax authorities and other tax jurisdictions.