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Income Taxes
 12 Months Ended
Feb. 29, 2012
Income Taxes:  
Income Tax Disclosure

Note 9 – Income Taxes

 

Deferred income taxes arise from the temporary differences between financial statement and income tax recognition of net operating losses.  The Company accounts for income taxes pursuant to ASC 740 – Income Taxes.

At February 29, 2012 and February 28, 2011 the Company had approximately $207,946 and $186,966 respectively  in unused federal net operating loss carry-forwards, which begin to expire principally in the year 2023.  The resulting deferred taxes assets (shown in the table below) have been fully reserved because of the uncertainty of realizing the benefits of such assets.

Deferred tax asset and the valuation account are as follows:

Feb 29 2012

Feb 28 2011

Deferred tax asset

$

70,702

$

63,568

Valuation allowance

(70,702)

(63,568)

Net deferred tax asset

$

-

$

-