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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Taxes:  
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,
    2015   2014
Deferred tax assets:                
Net operating loss carryforwards   $ 2,415,690     $ 2,307,440  
Start-up cost     320,338       350,834  
Goodwill     738,927       805,100  
Stock based compensation     669,761       621,858  
Other     24       (6,762 )
Deferred tax assets     4,144,741       4,078,470  
Less valuation allowance     (4,144,741 )     (4,078,470 )
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,
    2015    2014
                 
Federal income tax at statutory rate   $ (145,056 )   $ (192,410 )
State Tax     (15,487 )     (20,543 )
Permanent Differences     542       237  
Other     93,730       16,401  
Change in Valuation Allowance     66,271       196,315  
    $ —     $ —  
Summary of Valuation Allowance

Valuation and Qualifying Accounts

 

Description   Balance at Beginning of Period   Charged to Cost and Expenses   Write-offs   Other
Charges		   Balance at
End of Period
                                         
Deferred tax asset valuation allowance                                        
                                         
Year ended December 31, 2015   $ 4,078,470     $ 66,271     $ —     $ —     $ 4,144,741  
Year ended December 31, 2014   $ 3,882,154     $ 196,316     $ —     $ —     $ 4,078,470