Income Taxes (Tables)

3 Months Ended

Mar. 31, 2016

Income Taxes Tables

Schedule of effective tax rates reconciliation

The provision for income taxes results in effective tax rates which are different than the federal income tax statutory rate. The nature of the differences for the three months ended March 31, 2016 and 2015 were as follows:

	2016			2015
Expected federal income tax benefit	$	(344,991	)	$	(282,546	)
State income taxes after credits		(66,969	)		(54,847	)
Change in valuation allowance		411,960			337,393
Other		-			-
Total provision for income taxes	$	-		$	-

Schedule of deferred tax assets and liabilities

The components of the net deferred tax assets and liabilities at March 31, 2016 and December 31, 2015 consisted of the following:

	2016			2015
Deferred tax assets
Net operating loss carryforwards	$	1,994,277			1,582,317
Stock-based compensation		104,021			61,050
Total deferred tax assets		2,098,297			1,643,367
Deferred tax liabilities
Depreciation and amortization		(68,685	)		(61,888	)
Total deferred tax liabilities		(68,685	)		(61,888	)
Valuation allowance		(2,029,612	)		(1,581,479	)
Net deferred tax assets	$	-			-