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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Taxes:

Schedule of Deferred Tax Assets and Liabilities

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

		December 31,
		2018				2017
Deferred tax assets:
Net operating loss carryforwards		$	1,672,766			$	1,557,027
Start-up cost			153,964				174,679
Goodwill			363,979				408,552
Stock based compensation			535,901				414,080
Other			2,564				2,972
Deferred tax assets			2,729,174				2,557,309
Less valuation allowance			(2,729,174	)			(2,557,309	)
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,
		2018				2017
Federal income tax at statutory rate		$	(142,606	)		$	137,480
State Tax			(29,506	)			14,678
Permanent Differences			57				433
Other			186				(1,285	)
Change in Valuation Allowance			171,869				(151,306	)
		$	—			$	—

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, 2018		$	2,557,309			$	171,868				—			$	—			$	2,729,177
Year ended December 31, 2017		$	4,063,436			$	(1,506,127	)			—			$	—			$	2,557,309

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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

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-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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- Definition

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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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