Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES (Tables)

v2.4.0.6
INCOME TAXES (Tables)
3 Months Ended
Mar. 31, 2013
Income Taxes Tables  
Schedule Of Tax Assets

The Company has the following tax assets:

    December 31,
    2012   2011
Net Operating Losses   $ 1,122,000     $ 1,768,000  
Depreciation and Other     (15,920 )     (21,340 )
Valuation Allowance     (1,106,080 )     (1,746,660 )
    $ —       $ —    

 

Schedule Of Component Of Income Tax Expense Benefit

The provision for income taxes differ from the amount computed using the federal US statutory income tax rate as follows:

    December 31,
    2012   2011
Provision (Benefit) at US Statutory Rate   $ 548,250     $ (52,200 )
Net Operating Losses     635,580       80,240  
Depreciation and Other     (543,250 )     155,140  
Increase (Decrease) in Valuation Allowance     (640,580 )     (183,180 )
    $ —       $ —