Income Taxes

3 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

NOTE 8 – INCOME TAXES

The provision/(benefit) for income taxes for the 3 months ended December 31, 2018 and the year ended September 30, 2018 was as follows (assuming a 15% effective tax rate).

	3 months ended December 2018		September 30, 2018
Current Tax Provision
Federal-
Taxable Income		-		-
Total current tax provisions		-		-
			$	-

Deferred Tax Provision
Federal-
Loss carry forwards	$	-	$	6,838
Change in valuation allowance	$	-	$	6,838
Total deferred tax provisions	$	-	$	-

As of September 30, 2018, the Company had approximately $13,199,727 in tax loss carry forwards that can be utilized future periods to reduce taxable income, and the carry forward incurred for the year ended September 30, 2018 will expire by the year 2035.

As of December 31, 2018, the Company had approximately $13,293,152 in tax loss carry forwards that can be utilized future periods to reduce taxable income, and the carry forward incurred for the year ended September 30, 2019 will expire by the year 2036.

The Company did not identify any material uncertain tax positions. The Company did not recognize any interest or penalties for unrecognized tax benefits.

The federal income tax returns of the Corporation are subject to examination by the IRS, generally for three years after they are filed.