Provision for Income Taxes

9 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Provision for Income Taxes

NOTE 10: PROVISION FOR INCOME TAXES

The provision (benefit) for income taxes for the nine months ended September 30, 2017 and the year ended December 31, 2016 differs from the amount which would be expected as a result of applying the statutory tax rates to the losses before income taxes due primarily to the valuation allowance to fully reserve net deferred tax assets.

Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required future taxable income is uncertain, the Company recorded a valuation allowance.

	As of			As of
	September 30, 2017			December 31, 2016
Deferred tax assets:
Net operating loss before non-deductible items	$	(561,354	)	$	(437,701	)
Tax rate		34	%		34	%
Total deferred tax assets		190,860			148,818
Less: Valuation allowance		(190,860	)		(148,818	)
Net deferred tax assets	$	-		$	-

As of September 30, 2017, the Company has a net operating loss carry forward of $561,354 expiring through 2037. The Company has provided a valuation allowance against the full amount of the deferred tax asset due to management’s uncertainty about its realization. Furthermore, the net operating loss carry forward may be subject to further limitation pursuant to Section 382 of the Internal Revenue Code. The valuation allowance was increased by $42,042 in 2017.