NOTE 6 – INCOME TAX

6 Months Ended

Jun. 30, 2023

Income Tax Disclosure [Abstract]

NOTE 6 – INCOME TAX

NOTE 6 – INCOME TAX

As of June 30, 2023 and December 31, 2022, the Company has incurred an accumulated net loss of approximately $19.8 million and $19.0 million which resulted in a net operating loss for income tax purposes. NOLs can carry forward indefinitely up to offset 80 percent of taxable income after CARES Act effect on December 31, 2017. The deferred tax asset has been fully reserved for valuation allowance as the Company believes they will most-likely-than-not realize the benefits. 

Significant components of the deferred tax assets and liabilities for income taxes as of June 30, 2023 and December 31, 2022 consisted of the following: 

	June 30, 2023			December 31, 2022
Deferred tax assets
Net operating loss carry-forward	$	787,005		$	630,975
Total	$	787,005		$	630,975
Valuation allowance		(787,005	)		(630,975	)
Net deferred tax assets - noncurrent	$	—		$	—

Reconciliation of income tax provision and the accounting profit multiplied by U.S. federal income tax rate for the three and six months ended June 30, 2023 and 2022: 

	Three Months Ended June 30,						Six Months ended June 30,
	2023			2022			2023			2022
Income (loss) at 21% statutory tax rate	$	(26,021	)	$	(23,734	)	$	(156,030	)	$	(32,817	)
Increase (decrease) in income taxes resulting from:
Net operating loss carry forward		—			—			—			—
Change in valuation allowance		26,021			23,734			156,030			32,817
	$	—		$	—		$	—		$	—