Income Tax Provision (Benefit) (Tables)

1 Months Ended

Jan. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Provision for Income Tax

The income tax provision (benefit) consists of the following:

	January 31, 2014			December 31, 2013			December 31, 2012
Federal
Current	$	-		$	-		$	-
Deferred		(81,819	)		(945,289	)		(599,149	)
State and Local
Current		-			-			-
Deferred		(21,825	)		(361,363	)		-
Change in valuation allowance		103,644			1,306,652			599,149
Income tax provision (benefit)	$	-		$	-		$	-

Schedule of Deferred Tax Assets

The Company’s deferred tax assets (liabilities) consisted of the effects of temporary differences attributable to the following:

Deferred Tax Assets	One Month Ended January 31, 2014			Year Ended December 31, 2013			Year Ended December 31, 2012
Net operating loss carryovers	$	2,044,894		$	1,939,069		$	599,149
Total deferred tax assets	$	2,044,894		$	1,939,069		$	599,149
Valuation allowance		(2,009,445	)		(1,905,801	)		(599,149	)
Deferred tax asset, net of valuation allowance	$	35,449		$	33,268		$	-

Deferred Tax Liabilities
Other deferred tax liabilities		(35,449	)		(33,268	)		-
Total deferred tax liabilities	$	(35,449	)	$	(33,268	)		-
Net deferred tax asset (liability)	$	-		$	-		$	-

Schedule of Effective Income Tax Rate Reconciliation

The expected tax expense (benefit) based on the statutory rate is reconciled with actual tax expense benefit as follows:

	One Month Ended January 31, 2014			Year ended December 31, 2013			Year ended December 31, 2012
US Federal statutory rate		(34.00	)%		(34.00	)%		(34.00	)%
State income tax, net of federal benefit		(5.9	)		(5.9	)		(5.9	)
Deferred tax true-up		-			(6.8	)		-
Change in valuation allowance		42.5			44.3			36.7
Other permanent differences		(2.6	)		2.4			3.2
Income tax provision (benefit)		-	%		-	%		-	%