8. INCOME TAXES

12 Months Ended

Dec. 31, 2013

The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from net operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. The Company currently has net operating loss carryforwards aggregating approximately $9,935,961, which expire through 2032. The Company’s deferred income tax assets have been fully reserved as follows as of December 31, 2013 and 2012.

	2013			2012
Deferred tax asset	$	3,378,227		$	3,068,932
Valuation allowance for deferred tax assets		(3,378,227	)		(3,068,932	)
Net deferred tax asset	$	–		$	–

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details