XML 18 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Income Taxes
3 Months Ended
Mar. 31, 2012
Income Taxes  
Income Taxes

Note 3 – Income Taxes

Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses. These loss carryovers are limited under the Internal Revenue Code should a significant change in ownership occur.

 

At December 31, 2010 and 2011 the Company had net operating loss carryforwards of approximately $8,700 and $36,300 which will expire in 2029. The deferred tax asset of $1,736 and $7,257 created by the net operating losses has been offset by a 100% valuation allowance. The change in the valuation allowance in 2010 and 2011 was $1,181 and $5,521.