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Income Taxes | 6 Months Ended
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Jun. 30, 2017
Income Taxes [Abstract] |
Income Taxes |
4. | Income Taxes
The Company is not expected to have taxable income in 2017 and incurred a loss for the year ended December 31, 2016, and accordingly, no provision for federal income tax has been made in the accompanying financial statements. At June 30, 2017, the Company had available net operating loss carryforwards of approximately $4,260,600, expiring during various years through 2037. A summary of the deferred tax asset using an approximate 34% tax rate is as follows:
| Net operating loss |  | $ | 1,449,000 |
| Accounts receivable reserves |  |  | 15,000 |
| Inventory reserves |  |  | 7,000 |
| Stock compensation |  |  | 291,000 |
| Net deferred tax asset |  |  | 1,762,000 |
| Valuation allowance |  |  | (1,762,000 | )
| Total |  | $ | - |
The net operating loss carryforwards could be subject to limitation in any given year in the event of a change in ownership as defined by IRC Section 382. The difference between the statutory and the effective tax rate is primarily due to a change in valuation allowance on deferred taxes, as well as a permanent difference from the change in derivative liability. The Company has fully reserved the deferred tax asset resulting from available net operating loss carryforwards.

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- 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 740 -URI http://asc.fasb.org/topic&trid=2144680 + Details
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