XML 28 R17.htm IDEA: XBRL DOCUMENT v3.20.2
Income Taxes
3 Months Ended
Sep. 30, 2020
Income Taxes  
Income Taxes

NOTE 10 – Income Taxes

The Company recognized no income tax expense for each of the three months ended September 30, 2020 and 2019. At the end of each interim period, management estimates the effective tax rate expected to be applicable for the full fiscal year and this rate is applied to the results for the year to date period, and adjusted for any items that are considered discrete in accordance with ASC 740‑270. The primary difference between the statutory tax rate and the effective rate for the period ending September 30, 2020 would be the change in valuation allowance. Management records a valuation allowance for deferred tax assets that are more likely than not to not be realized.