Annual report pursuant to Section 13 and 15(d)

Note 12 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)

v3.3.1.900
Note 12 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)
12 Months Ended
Dec. 31, 2015
Tables/Schedules  
Schedule of Effective Income Tax Rate Reconciliation

Income taxes are provided for temporary differences between financial and tax bases of assets and liabilities. The following is a reconciliation of the amount of benefit that would result from applying the federal statutory rate to pretax loss with the benefit from income taxes for the years ended December 31, 2015 and 2014:

 

Rate Reconciliation

 

 

 

2015

2014

Federal income tax (benefit) at statutory rate (34%)

$(3,066,000)

$(814,000)

State income tax (benefit) , net of federal benefit

(69,000)

(7,000)

Foreign income tax benefit

-

-

Losses allocated to preferred members of GCE Mexico

2,616,000

743,000

Losses allocated GEHD

57,000

34,000

Share-based compensation

16,000

66,000

Expiration of operating loss and research credit carryforwards

-

-

Other differences

(27,600)

4,000

Change in valuation allowance

179,000

(26,000)

Income tax benefit

$-

$-