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Income Taxes (Tables)
3 Months Ended
Mar. 31, 2015
Income Taxes [Abstract]  
Components of Deferred Tax Assets


 

 

March 31,
2015

 

December 31,
2014

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

Net deferred tax assets

 

$

2,185,000

 

$

1,331,000

 

Tax loss carry-forwards

 

 

 

 

 

Other assets

 

 

 

 

 

Research and development credits

 

 

 

 

 

Other liabilities

 

 

 

 

 

Valuation allowance

 

 

(2,185,000

)

 

(1,331,000

)

Total net deferred income taxes

 

$

 

$

 

Reconciliation of the Effective Tax Rate


 

 

March 31,
2015

 

December 31,
2014

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

U.S. federal tax rate

 

 

35 

%

 

35 

%

State tax rate

 

 

%

 

%

Non-deductible expenses

 

 

(16)

%

 

— 

%

Valuation allowance

 

 

(24)

%

 

(40)

%

Total net deferred income taxes

 

$

— 

%

$

— 

%