v3.3.1.900

NOTE 11 - INCOME TAXES | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] | NOTE 11 – INCOME TAXES The tax effects of temporary differences that give rise to deferred tax assets are presented below:
|  | For The Years Ended December 31, |
Deferred Tax Assets: |  | 2015 |  |  | 2014 |
Net operating loss carryforward |  | $ | 4,853,854 |  |  | $ | 4,447,768 |
Stock-based compensation |  |  | 2,403,765 |  |  |  | 2,205,340 |
Accounts receivable |  |  | 14,501 |  |  |  | - |
Subsidiary investment |  |  | 360,423 |  |  |  | - |
Total deferred tax assets |  |  | 7,632,543 |  |  |  | 6,653,108 |
Deferred Tax Liabilities: |  |  |  |  |  |  |  |
Fixed assets |  |  | 303 |  |  |  | - |
Software development costs |  |  | 60,584 |  |  |  | - |
Total deferred tax liabilities |  |  | 60,887 |  |  |  | - |
Deferred tax asset, net |  |  | 7,571,656 |  |  |  | 6,653,108 |
Valuation allowance |  |  | (7,571,656 | ) |  |  | (6,653,108 | )
Deferred tax asset, net of valuation allowance |  | $ | - |  |  | $ | - |
Changes in valuation allowance |  | $ | 918,548 |  |  | $ | 1,463,191 |
The income tax provision (benefit) consists of the following:
|  | For The Years Ended December 31, |
|  | 2015 |  |  | 2014 |
Federal: |  |  |  |  |  |
Current |  | $ | - |  |  | $ | - |
Deferred |  |  | (918,548 | ) |  |  | (1,463,191 | )
State and local: |  |  |  |  |  |  |  |
Current |  |  | - |  |  |  | - |
Deferred |  |  | - |  |  |  | - |
|  |  | (918,548 | ) |  |  | (1,463,191 | )
Change in valuation allowance |  |  | 918,548 |  |  |  | 1,463,191 |
Income tax provision (benefit) |  | $ | - |  |  | $ | - |
A reconciliation of the statutory federal income tax rate to the Company’s effective tax rate is as follows:
|  | For The Years Ended December 31, |
|  | 2015 |  |  | 2014 |
Tax benefit at federal statutory rate |  |  | (34.0 | )% |  |  | (34.0 | )%
Other non-deductible compensation subject to SEC 162(M) |  |  | 0.0 | % |  |  | 10.1 | %
Permanent differences |  |  | 6.2 | % |  |  | 5.0 | %
Change in valuation allowance |  |  | 27.8 | % |  |  | 18.9 | %
Effective income tax rate |  |  | 0 | % |  |  | 0 | %
The Company assesses the likelihood that deferred tax assets will be realized. To the extent that realization is not likely, a valuation allowance is established. Based upon the Company’s history of losses since inception, management believes that it is more likely than not that future benefits of deferred tax assets will not be realized. At December 31, 2015 and 2014, the Company had $14,276,041 and $13,081,670, respectively, of federal net operating losses that may be available to offset future taxable income. The net operating loss carry forwards, if not utilized, will expire from 2031 to 2035 for federal purposes. In accordance with Section 382 of the Internal Revenue Code, the usage of the Company’s net operating loss carry forwards are subject to annual limitations in the event of a greater than 50% ownership change. The Company files income tax returns in the U.S. federal and Texas jurisdictions and is subject to examination by taxing authorities beginning with the year ended December 31, 2012.

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 4: 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=6907707&loc=d3e32639-109319 Reference 5: 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=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration