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Note 3 - Income Taxes
12 Months Ended
Dec. 31, 2012
Notes  
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, 2011 and 2012 the Company had net operating loss carryforwards of approximately $36,300 and $50,200 which will expire in 2029. The deferred tax asset of $7,257 and $10,049 created by the net operating losses has been offset by a 100% valuation allowance. The change in the valuation allowance in 2011 and 2012 was $5,521 and $2,792.