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  
Schedule of the net deferred tax assets
    Year Ended  
    December 31,  
    2014     2013  
             
Deferred tax assets:            
Net operating loss carryforwards   $ 8,454,000     $ 8,581,000  
Options and warrants not yet deducted, for tax purposes     420,000       1,149,000  
      8,874,000       9,730,000  
                 
Valuation allowance     (4,131,000 )     (4,071,000 )
                 
Net deferred tax assets   $ 4,743,000     $ 5,659,000  
Reconciliation federal income tax rate
  Year Ended  
  December 31,  
  2014   2013  
         
Income tax - statutory rate 34.0%     34.0%  
State and local,net   1.0%         1.0%    
Valuation allowance on deferred tax assets   0.0%       0.0%  
   35.0%     35.0%