NOTE 12 INCOME TAXES

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

NOTE  12 INCOME TAXES

The Company has adopted ASC 740-10, which requires the recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns.  Under this method, deferred tax liabilities and assets are determined based on the difference between financial statements and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.

The Company’s total deferred tax liabilities, deferred tax assets, and deferred tax asset valuation allowances are as of December 31 are as follows:

	December 31,
	2015			2014			2013			2012			2011
Total deferred tax assets	$	6,327,000		$	4,343,000		$	3,651,000		$	3,346,000		$	3,080,000
Less valuation allowance		(6,327,000	)		(4,343,000	)		(3,651,000	)		(3,346,000	)		(3,080,000	)
Net deferred tax asset	$	-		$	-		$	-		$	-		$	-

Those amounts have been presented in the company’s financial statements as of December 31, as follows:

	December 31,
	2015		2014		2013		2012		2011
Noncurrent deferred tax asset	$	-	$	-	$	-	$	-	$	-
Current deferred tax liability		-		-		-		-		-
Net deferred tax asset (liability)	$	-	$	-	$	-	$	-	$	-

The company has a loss carry forward of $ 15,819,000 that may be offset against future taxable income.  Substantially all of the carry forwards expire in 2030.

Income tax provision (benefit) consists of the following components:

	December 31,
	2015		2014		2013		2012		2011
Noncurrent deferred tax asset	$	-	$	-	$	-	$	-	$	-
Current deferred tax liability		-		-		-		-		-
Net deferred tax asset (liability)	$	-	$	-	$	-	$	-	$	-

Realization of deferred tax assets is dependent on future earnings, if any, the timing and amount of which is uncertain.  Those amounts are therefore presented on the Company’s balance sheets as a non-current asset.  Utilization of the net operating loss carry forwards may be subject to substantial annual limitations, which may result in the expiration of net operating loss carry forwards before utilization.