v3.4.0.3

Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Summary of Provision for Income Taxes | The provision for income taxes for the years ended December 31, 2015 and December 31, 2014 consisted of the following:
|  | 2015 |  |  | 2014 |
Current provision: |  |  |  |  |  |  |  |
Federal |  | $ | 143,957 |  |  | $ | — |
State |  |  | 2,520 |  |  |  | — |
Total current provision |  |  | 146,477 |  |  |  | — |
Deferred provision (benefit) for tax: |  |  |  |  |  |  |  |
Federal |  |  | — |  |  |  | — |
State |  |  | — |  |  |  | — |
Total deferred provision (benefit) for tax |  |  | — |  |  |  | — |
Total provision for tax |  | $ | 146,477 |  |  | $ | — |
Schedule of Effective Income Tax | The provision for income taxes differs from the amounts which would be provided by applying the statutory federal income tax rate of 34% to the net loss before provision for income taxes for the following reasons:
|  | Bitzio 12/31/15 |  |  | GreenShift 12/31/15 |  |  | Total 12/31/15 |
Book income (loss) before income taxes |  | $ | 206,636 |  |  | $ | 5,424,623 |  |  | $ | 5,631,259 |
Stock options issued for services |  |  | 113,560 |  |  |  | — |  |  |  | 113,560 |
Interest expense on convertible notes |  |  | 205,090 |  |  |  | 345,545 |  |  |  | 550,635 |
Interest related to conversion features |  |  | — |  |  |  | 1,435,664 |  |  |  | 1,435,664 |
Amortization of Goodwill |  |  | (125,274 | ) |  |  | — |  |  |  | (125,274 | )
Change in derivative liability |  |  | (977,784 | ) |  |  | (353,762 | ) |  |  | (1,331,546 | )
Investee loss |  |  | — |  |  |  | 218,729 |  |  |  | 218,729 |
Utilization of net operating loss carryforwards |  |  | — |  |  |  | (2,626,962 | ) |  |  | (2,626,962 | )
Gain on extinguishment of debt |  |  | — |  |  |  | (4,146,945 | ) |  |  | (4,146,945 | )
Other |  |  | — |  |  |  | (150,415 | ) |  |  | (150,415 | )
Change in valuation allowance |  |  | 577,772 |  |  |  | — |  |  |  | 577,772 |
Income tax expense |  |  | — |  |  |  | 146,477 |  |  |  | 146,477 |
|  | Bitzio 12/31/14 |
Book income (loss) from operations |  |  | (1,373,641 | )
Interest expense on convertible notes |  |  | 184,198 |
Amortization of Goodwill |  |  | (125,274 | )
Change in derivative liability |  |  | 695,061 |
Change in valuation allowance |  |  | 619,656 |
Income tax expense |  |  | — |
Schedule of Deferred Tax Assets | Net deferred tax assets consist of the following components as of:
|  | Bitzio 12/31/15 |  |  | GreenShift 12/31/15 |  |  | Total 12/31/15 |
Net operating loss carry forwards (expire through 2035) |  | $ | 6,413,913 |  |  | $ | 11,088,465 |  |  | $ | 17,502,378 |
Stock/options issued for services |  |  | 534,877 |  |  |  | — |  |  |  | 534,877 |
Allowance for doubtful accounts |  |  | — |  |  |  | 41,000 |  |  |  | (41,000 | )
Total gross deferred tax asset/liabilities |  |  | 6,948,790 |  |  |  | 11,047,465 |  |  |  | 17,996,255 |
Valuation allowance |  |  | (6,948,790 | ) |  |  | (11,047,465 | ) |  |  | (17,996,255 | )
Net deferred taxes |  |  | — |  |  |  | — |  |  |  | — |
|  | Bitzio 12/31/14 |
Net operating loss carry forwards (expire through 2034) |  |  | 5,836,142 |
Stock/options issued for services |  |  | 421,317 |
Total gross deferred tax asset/liabilities |  |  | 6,257,459 |
Valuation allowance |  |  | (6,257,459 | )
Net deferred taxes |  |  | — |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=65882285&loc=d3e32687-109319 + Details
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