| Schedule of Net Deferred Tax Assets |
| |
|
December 31, 2016 |
|
|
December 31, 2015 |
|
| Deferred tax assets: |
|
|
|
|
|
|
|
|
| Net operating loss carryover |
|
$ |
8,854,900 |
|
|
$ |
8,007,900 |
|
| Depreciation |
|
|
- |
|
|
|
247,900 |
|
| Related party accrual |
|
|
179,400 |
|
|
|
113,400 |
|
| Capital Loss Carryover |
|
|
5,500 |
|
|
|
5,500 |
|
| Deferred tax liabilities |
|
|
|
|
|
|
|
|
| Depreciation |
|
|
(197,200 |
) |
|
|
- |
|
| Valuation allowance |
|
|
(8,842,600 |
) |
|
|
(8,374,700 |
) |
| Net deferred tax asset |
|
$ |
- |
|
|
$ |
- |
|
| Net deferred tax asset |
|
$ |
- |
|
|
$ |
- |
|
|
| Schedule of Federal Income Tax Rate |
| |
|
December 31, 2016 |
|
|
December 31, 2015 |
|
| Book income (loss) |
|
$ |
(3,350,700 |
) |
|
$ |
2,119,100 |
|
| Grant income |
|
|
(7,100 |
) |
|
|
(7,100 |
) |
| Depreciation |
|
|
(25,300 |
) |
|
|
(41,500 |
) |
| Intangible asset impairment |
|
|
12,100 |
|
|
|
- |
|
| Related party accrual |
|
|
65,900 |
|
|
|
(516,100 |
) |
| Meals and entertainment |
|
|
1,600 |
|
|
|
1,600 |
|
| Stock for services |
|
|
341,300 |
|
|
|
113,900 |
|
| Options expense |
|
|
229,600 |
|
|
|
9,700 |
|
| Non-cash interest expense |
|
|
1,976,300 |
|
|
|
581,500 |
|
| Other non-deductable expenses |
|
|
(90,600 |
) |
|
|
(3,112,100 |
) |
| Valuation allowance |
|
|
846,900 |
|
|
|
851,000 |
|
| Income tax expense |
|
$ |
- |
|
|
$ |
- |
|
|