XML 41 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Income taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of components giving rise to the income tax benefit

The benefit for income taxes consists of the following: 

 

    2016     2015  
Currently payable                
Federal   $ -     $ -  
State     -       -  
Total currently payable   $ -     $ -  
Deferred                
Federal   $ (85,162 )   $ (434 )
State   $ (- )   $ (- )
Total deferred   $ (85,162 )   $ (434 )
Less: increase in valuation allowance     85,162       434  
Net deferred     -       -  
Total income taxes   $ -     $ -  
Schedule of effective income tax rate in the accompanying consolidated statements of operations

The differences between the United States statutory federal income tax rate and the effective income tax rate in the accompanying consolidated statements of operations are as follows: 

 

    2016     2015  
                 
Statutory United States Federal income tax rate     35.0 %     35.0 %
                 
Change in Fair value of derivative liability     4.2 %     -  
                 
Impairment of Acquisition     (28.4 )%     -  
                 
Non-deductible interest     (7.3 )%     -  
                 
Change in valuation allowance     (3.5 )%     (35.0 )%
                 
Effective tax rate     0.0 %     0.0 %