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2. Basis of Presentation and Significant Accounting Policies: Deferred Tax Asset (Policies)
6 Months Ended
Apr. 30, 2014
Policies  
Deferred Tax Asset

Deferred Tax Asset

 

The Company had available a federal net operating loss carry-forward of $9,919,000 for income tax purposes as of April 30, 2014, which will expire in various tax years from fiscal year 2020 through fiscal year 2033. The Company evaluates whether a valuation allowance related to deferred tax assets is required each reporting period. A valuation allowance would be established if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred income tax asset will not be realized. As of April 30, 2014, the Company’s deferred tax asset was $2,933,000, and it was determined it is more likely than not that the net operating loss carry-forward would be used.