Annual report pursuant to Section 13 and 15(d)

Note 12 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)

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Note 12 - Income Taxes: Schedule of Deferred Tax Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2015
Tables/Schedules  
Schedule of Deferred Tax Assets and Liabilities

The components of deferred tax assets and liabilities are as follows at December 31, 2015 and 2014, using a combined deferred income tax rate of 40%:

 

Components of Net Deferred Taxes

 

 

 

2015

2014

Net operating loss carryforward

$7,507,000

$7,188,000

Share-based compensation

483,000

752,000

Accrued compensation and other liabilities

830,000

701,000

Impairment of long lived assets

42,000

42,000

Other

-

-

Valuation allowance

(8,862,000)

(8,683,000)

Net deferred tax asset

$-

$-