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7. INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes Tables

Provision for (benefit from) income taxes

Period Ended December 31, 2017
Current tax benefit		$	-
Deferred tax benefit			136,000
Change in valuation allowance			(136,000	)
Income tax benefit (provision)		$	-

Reconciliation of the provision for income taxes

Period Ended December 31, 2017
Income taxes benefit computed at federal statutory rate		$	133,000
Research tax credits			6,000
Permanent differences and other			(3,000	)
Change in valuation allowance			(136,000	)
Income tax benefit (provision)		$	-

Deferred tax assets and liabilities

At December 31, 2017
Deferred tax assets:
Net operating losses		$	132,000
Research tax credits			6,000
Deferred compensation			20,000
Accruals and other			13,000
			171,000
Deferred tax liabilities:
Depreciation and other			3,000
			3,000
Net deferred tax assets			168,000
Less valuation allowance			(168,000	)
Net deferred taxes after valuation allowance		$	-

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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=84230637&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=84230637&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=84230637&loc=d3e32687-109319

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