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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Taxes:

Schedule of Deferred Tax Assets and Liabilities

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

		December 31,
		2017				2016
Deferred tax assets:
Net operating loss carry forwards		$	1,557,027			$	2,484,406
Start-up cost			174,679				289,843
Goodwill			408,552				672,754
Stock based compensation			414,080				614,790
Other			2,972				1,644
Deferred tax assets			2,557,309				4,063,436
Less valuation allowance			(2,557,309	)			(4,063,436	)
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

		December 31,
		2017				2016
Federal income tax at statutory rate		$	137,480			$	(42,079	)
State Tax			14,678				(4,493	)
Permanent Differences			433				120
Other			(1,285	)			127,755
Change in Valuation Allowance			(151,306	)			(81,304	)
		$	—			$	—

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, 2017		$	4,063,436			$	(1,506,127	)		$	—			$	—			$	2,557,309
Year ended December 31, 2016		$	4,144,741			$	(81,304	)		$	—			$	—			$	4,063,436

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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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Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
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