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INCOME TAXES

12 Months Ended

Dec. 31, 2014

Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse. The company does not have any uncertain tax positions.

The Company currently has net operating loss carry forwards of $2,349,211 and $1,574,930 as of December 31, 2014 and 2013, respectively, which expire through 2031. The deferred tax asset of $822,224 related to the carry forwards has been fully reserved at December 31, 2014.

The Company has deferred income tax assets, which have been fully reserved, as follows as of December 31, 2014 and 2013:

	2014			2013
Deferred tax assets	$	822,224		$	551,225
Valuation allowance for deferred tax assets		(822,224	)		(551,225	)
Net deferred tax assets	$	-		$	-

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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