Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Provision for Income Taxes

The provision for income taxes consists of the following components:

	Year Ended December 31,
	2013		2012
Current	$	-	$	-
Deferred		-		(569,582)
	$	-	$	(569,582)

Components of Deferred Income Tax Assets and Liabilities

The current income tax benefit relates to a reduced level of uncertain tax positions identified in ASC 740 -10 Income Taxes. The components of deferred income tax assets and liabilities are as follows:

	December 31,
	2013		2012
Long-term deferred tax assets:
Stock compensation benefit	$	219,778	$	217,961
Net operating loss carryforward		1,680,998		2,874,832
Total long-term deferred tax assets		1,900,776		3,092,793
Valuation allowance		(1,900,776)		(2,431,924)
		-		660,869
Long-term deferred tax liabilities:
Intangible assets		-		-
Property and equipment		-		(660,869)
Total long-term deferred tax liabilities		-		(660,869)
Net deferred tax assets	$	-	$	-

Schedule of Net Operating Loss

A schedule of the NOLs is as follows:

Tax Year		Net operating loss		NOL Expiration Year
	1998	$	184,360	2018
	1999		187,920	2019
	2000		25,095	2020
	2001		104,154	2021
	2002		15,076	2022
	2003		96,977	2023
	2004		78,293	2024
	2005		70,824	2025
	2006		48,526	2026
	2007		180,521	2027
	2008		534,087	2028
	2009		872,881	2029
	2010		706,174	2030
	2011		836,536	2031
	2012		728,496	2032
	2013		222,675	2033
		$	4,892,596

Federal and state statutory corporate tax rates

The effective tax rates for 2013 and 2012 were computed by applying the federal and state statutory corporate tax rates as follows:

	Year ended December 31,
	2013		2012
Statutory Federal income tax rate	34	%	34	%
State income taxes	1	%	1	%
Rate Differential	0	%	0	%
Impairment of intangibles & goodwill	0	%	-15	%
Less valuation allowance	-46	%	-26	%
Loss of expiring NOLs	0	%	-1	%
Adjustment to NOLs for Wood Energy	11	%	0	%
Other	0	%	0	%
	0	%	-7	%

Beginning and ending amount of unrecognized tax benefits

A reconciliation of beginning and ending amount of unrecognized tax benefits is as follows:

Balance at January 1, 2012	$	11,400
Additions based on tax positions related to prior years		-
Reductions based on tax positions related to prior years		-
Balance at December 31, 2012	$	11,400
Additions based on tax positions related to the current year		-
Reductions based on tax positions related to the current year		-
Balance at December 31, 2013	$	11,400