NOTE 7 - PROVISION FOR INCOME TAXES

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE 7 - PROVISION FOR INCOME TAXES

The Company provides for income taxes under ASC 740 which requires the use of an asset and liability approach in accounting for income taxes.  Deferred tax assets and liabilities are recorded based on the differences between the financial statement and tax bases of assets and liabilities and the tax rates in effect when these differences are expected to reverse.  ASC 740 requires the reduction of deferred tax assets by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 39% to the net loss before provision for income taxes for the following reasons:

	December 31, 2014		December 31, 2013
Income tax expense at statutory rate	$	0	$	0
Common stock issued for services		0		0
Valuation allowance		0		0
Income tax expense per books	$	0	$	0

Net deferred tax assets consist of the following components as of:

	December 31, 2014			December 31, 2013
NOL carryover	$	(925,151	)	$	(865,026	)
Deferred tax benefit		360,809			337,360
Valuation Allowance		(360,809	)		(337,360	)
Net deferred tax benefit	$	0		$	0

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of $nil for federal income tax reporting purposes are subject to annual limitations.  Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.