v3.3.1.900

NOTE 11 - INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

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

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

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)		$	-			$	-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

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	%

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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=6907707&loc=d3e32639-109319

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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=6907707&loc=d3e32537-109319

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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=6907707&loc=d3e32687-109319

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