Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Taxes Tables

Summary of income tax provision (benefit)

	For The Year Ended
	December 31,
	2015			2014
Federal:
Current	$	-		$	-
Deferred		(269,394	)		(387,752	)
State and local:
Current		-			-
Deferred		(21,621	)		(161,244	)
		(291,015	)		(548,996	)
Change in valuation allowance		291,015			548,996
Income tax provision (benefit)	$	-		$	-

Summary of significant portions of the deferred tax assets and liabilities

	December 31,
	2015			2014
Deferred tax assets:
Net operating loss carryforwards	$	5,585,989		$	5,315,823
Stock-based compensation		767,443			722,782
Inventory reserves		8,800			6,090
Allowance for bad debt		17,915			17,948
Deferred Revenue		2,575			-
Deferred Rent		9,824			14,108
Contingent Liability		1,910			1,910
Charitable contribution carryforwards		5,772			5,772
Accruals		22,491			31,007
Total deferred tax assets		6,422,719			6,115,440
Valuation allowance		(6,379,189	)		(6,088,174	)
Deferred tax assets, net of valuation allowance		43,530			27,266
Deferred tax liabilities:
Property and equipment		(29,881	)		(27,266	)
Web Development		(13,649	)		-
Deferred tax liabilities	$	(43,530	)	$	(27,266	)
Net deferred tax assets	$	-		$	-
Change in valuation allowance	$	291,015		$	548,996

Summary of tax expense (benefit) based on the statutory rate

	For The Year Ended
	December 31,
	2015			2014
US federal statutory rate		(34.0	%)		(34.0	%)
State tax rate, net of federal benefit		(4.0	%)		(4.0	%)
Permanent differences
- Stock based compensation		12.3	%		4.8	%
- Adjustments to prior deferred tax balances		(20.7	%)		2.4	%
Change in valuation allowance		46.4	%		30.8	%
Income tax provision (benefit)		0.0	%		0.0	%