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Note 5 - Income Taxes | 12 Months Ended
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Dec. 31, 2013
Income Tax Disclosure [Abstract] |
Note 5 - Income Taxes | Deferred Taxes Deferred taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, and operating losses and tax credit carryforwards. The significant components of net deferred income tax assets for the Company are:
|  | December 31, |
|  | 2013 |  |  | 2012 |
Deferred tax assets: |  |  |  |  |  |
Federal net operating loss carryforward |  | $ | 13,732,222 |  |  | $ | 13,493,553 |
Other |  |  | 696,043 |  |  |  | 538,936 |
Patent amortization |  |  | (7,007 | ) |  |  | (7,707 | )
Deferred tax assets before valuation |  |  | 14,421,258 |  |  |  | 14,024,782 |
Valuation allowance |  |  | (14,421,258 | ) |  |  | (14,024,782 | )
Net deferred income tax assets |  | $ | — |  |  | $ | — |
Generally accepted accounting principles requires that the tax benefit of net operating losses, temporary differences and credit carryforwards be recorded as an asset to the extent that management assesses that realization is “more likely than not.” Realization of the future tax benefits is dependent on the Company's ability to generate sufficient taxable income within the carryforward period. Because of the Company's history of operating losses, management has provided a valuation allowance equal to its net deferred tax assets. Tax Carryforward At December 31, 2013, the Company had net operating loss carryforwards of approximately $31,935,000 to reduce United States federal taxable income in future years. These carryforwards expire through 2033. A reconciliation of the difference between the expected income tax rate using the statutory federal rate and the Company's effective rate is as follows:
|  | Year Ended December 31, |
|  | 2013 |  |  | 2012 |
U.S. Federal Income Tax statutory rate |  | 34 | % |  | 34 | %
State income taxes |  |  | 5 | % |  | $ | 5 | %
Valuation allowance |  |  | (35) | % |  |  | (35) | %
Other |  |  | (4) | % |  |  | (4) | %
Effective tax rate |  |  | 0 | % |  | $ | 0 | %

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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
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