Note 11 - Income Taxes

6 Months Ended

Jul. 31, 2014

11.

Income Taxes

The Company is in process to complete a study to determine the availability of net operating losses and limitations thereto, if any, under Section 382 of the Internal Revenue Code to offset any current tax liability. Accordingly, tax provision amounts due in this fiscal year are dependent upon the completion of this study and could be significant.

- 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.

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