PROVISION FOR INCOME TAXES

6 Months Ended

Jun. 30, 2016

Income Tax Disclosure [Abstract]

PROVISION FOR INCOME TAXES

As of June 30, 2016, there is no provision for income taxes, current or deferred.

Net operating losses carryforward	$	3,312,367
Valuation allowance		(3,312,367	)
	$	-

The Company has approximately $9,742,000 in net operating losses as of June 30, 2016 available to offset future taxable income through 2036. The Company has established a valuation allowance equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods.

A reconciliation of the Company’s effective tax rate as a percentage of income before taxes and the statutory rate for year ended June 30, 2016 is summarized below:

Federal rate	34	%
State rate	-
Combined Tax Rate	34	%
Valuation allowance	(34	)%