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INCOME TAXES
 9 Months Ended
Apr. 30, 2013
Income Taxes  
Note 4 - INCOME TAXES

The Company has tax losses which may be applied against future taxable income. The potential tax benefits arising from these loss carry-forwards expire beginning in 2029 and are offset by a valuation allowance due to the uncertainty of profitable operations in the future. The estimated net tax loss carry-forward was approximately $610,000 at April 30, 2013 resulting in a potential tax benefit of approximately $237,400.

 

The significant components of the deferred tax asset as of April 30, 2013 and July 31, 2012 are as follows:

 

    4/30/13     7/31/12  
Net operating loss carryforwards     237,400       164,333  
Valuation allowance     (237,400 )     (164,333 )
Net deferred tax asset     -       -