Note 10 - Income Taxes

12 Months Ended

Dec. 31, 2016

Notes

Note 10 - Income Taxes

Note 10 – Income Taxes

The Company accounts for income taxes under standards issued by the FASB. Under those standards, deferred tax assets and liabilities are recognized for future tax benefits or consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for significant deferred tax assets when it is more likely than not that such assets will not be realized through future operations.

No provision for federal income taxes has been recorded due to the available net operating loss carry forwards of approximately $1,351,095 will expire in various years through 2033. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the future tax loss carry forwards.

The actual income tax provisions differ from the expected amounts calculated by applying the statutory income tax rate to the Company's loss before income taxes.  The components of these differences are as follows at December 31, 2016 and December 31, 2015:

	2016		2015
Net tax loss carry-forwards		$                           1,351,095		$                                03,893
Statutory rate		34%		34%
Expected tax recovery		459,372		103,324
Change in valuation allowance		(459,372)		(103,324)
Income tax provision		$                                            -		$                                           -
Components of deferred tax asset:
Non capital tax loss carry forwards		$                              459,372		$                              103,324
Less: valuation allowance		(459,372)		(103,324)
Net deferred tax asset		$                                            -		$                                           -