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Schedule of Income Taxes and deferred tax assets (Tables)
 12 Months Ended
Dec. 31, 2014
Schedule Of Income Taxes And Deferred Tax Assets Tables  
Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s net deferred income taxes are as follows:

 

     

For the Years ended

December 31,

  
      2014     2013  
Deferred tax assets:              
               
Net operating loss carryforwards     $ 2,307,440     $ 2,092,216  
Start-up cost       350,834       381,070  
Goodwill       805,100        871,272  
Amortization of Intellectual Property       (6,893 )     (6,893 )
Stock based compensation       621,858       542,836  
Other       131       1,653  
Deferred tax assets       4,078,470       3,882,154  
Less valuation allowance       (4,078,470 )     (3,882,154 )
Net deferred tax assets after valuation allowance     $ —     $ —  
Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the U.S. statutory federal income tax rate to the effective income tax rate (benefit) follows:

 

Rate Reconciliation  

For the Years ended

December 31,

  
    2014      2013  
             
Federal income tax at statutory rate   $ (192,410 )   $ (358,686 )
State Tax, net of Federal rate     (20,543 )     (58,023 )
Permanent Differences     237       (13,829 )
Forfeiture of fully vested stock compensation     —       255,438  
Rate Change from 39.5% to 37.63%     —       88,950  
Other     16,400       21,891  
Change in Valuation Allowance     196,316        64,259  
    $ —     $ —  
Summary of Valuation Allowance

Valuation and Qualifying Accounts

 

Description   Balance at     Charged to     Write-offs     Other     Balance at  
    Beginning     Cost and           Charges     End of  
    of Period     Expenses                 Period  
                               
Deferred tax asset valuation allowance  
                               
Year ended December 31, 2014   $ 3,882,154     $ 196,316     $ —     $ —     $ 4,078,470  
Year ended December 31, 2013   $ 3,817,895     $ 64,259     $ —     $ —     $ 3,882,154