XML 28 R17.htm IDEA: XBRL DOCUMENT
v3.10.0.1

NOTE 10 - INCOME TAXES | 6 Months Ended
--- | ---
Jun. 30, 2018
Income Tax Disclosure [Abstract] |
Income Tax Disclosure [Text Block] | NOTE 10 – INCOME TAXES The recognized deferred tax asset is based upon the expected utilization of its benefit from future taxable income. The Company has federal net operating loss (“NOL”) carryforwards of approximately $6,849,000 as of June 30, 2018, which is subject to limitations under Section 382 of the Internal Revenue Code. These carryforward losses are available to offset future taxable income, and begin to expire in the year 2024 to 2034. The foregoing amounts are management’s estimates and the actual results could differ from those estimates. Future profitability in this competitive industry depends on continually obtaining and fulfilling new profitable sales agreements and modifying products. The inability to obtain new profitable contracts could reduce estimates of future profitability, which could affect the Company’s ability to realize the deferred tax assets. Income tax provision:
|  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 201 8 |  |  | 2017 |
Current: |  |  |  |  |  |  |  |
Federal |  | $ | - |  |  | $ | 5,290 |
State and local |  |  | 2,246 |  |  |  | 588 |
Total current tax provision |  |  | 2,246 |  |  |  | 5,878 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | 26,000 |  |  |  | 164,378 |
State and local |  |  | 2,000 |  |  |  | 18,264 |
Total deferred tax provision |  |  | 28,000 |  |  |  | 182,642 |
Total provision |  | $ | 30,246 |  |  |  | 188,520 |
For the six months ended June 30, 2018, the Company’s Federal and State provision requirements were calculated based on the estimated tax rate. The Federal effective rate is higher than the statutory rate primarily due to Incentive Stock Options (ISO) expense and 50% of general meals which are not deductible. The provision for the six months ended June 30, 2018 was $30,246. The effective tax rate consists primarily of the 21% federal statutory tax rate and a blended 5% state and local tax rate.

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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
Name: | us-gaap_IncomeTaxDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration