Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.1.9
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2014
Income Taxes Tables  
Provisions for income taxes
    2014   2013
Federal – current   $ -     $ -  
State – current     -       -  
Total   $ -     $ -  
Net deferred tax assets and liabilities
    2014     2013  
Deferred tax assets (liabilities):            
Net operating loss carryforwards   $ 7,837,000     $ 6,283,000  
Stock based compensation     2,716,000       1,735,000  
Accrued compensation     47,000       31,000  
Derivative Liability     17,000       42,000  
Depreciation and amortization     6,617,000       5,099,000  
Other     20,000       10,000  
Total deferred tax assets     17,254,000       13,200,000  
Valuation allowance for net deferred tax assets     (17,254,000 )     (13,200,000 )
Total   $ -     $ -  
Reconciliation of federal statutory income tax rate to our effective income tax rate
    2014     2013  
 Computed expected tax expense   $ (3,548,000 )   $ (5,698,000 )
 State taxes, net of federal benefit     (594,000 )     (300,000 )
 Other     88,000       3,951,000  
 Change in valuation allowance     4,054,000       2,047,000  
 Total   $ -     $ -