General form of registration statement for all companies including face-amount certificate companies

14. Income Taxes (Tables)

v3.8.0.1
14. Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets and Liabilities
    2016     2015  
Deferred tax assets:                
NOL Carryover   $ 7,544,300     $ 5,808,100  
Bad Debt Reserve     44,100       –  
Inventory Reserve     10,400       11,200  
Amortization     61,500       –  
Accrued Compensated Absences     52,900       37,600  
Charitable Contributions     5,000       400  
Subtotal     7,718,200       5,857,300  
Valuation Allowance     (7,647,300 )     (5,857,300 )
Deferred tax liabilities:                
Depreciation     (42,700 )     –  
Prepaid Expenses     (28,200 )     –  
Net Deferred Tax Asset   $ –     $ –  
Schedule of Effective Income Tax Rate Reconciliation
    2016     2015  
Book Loss   $ (2,113,000 )   $ (1,184,300 )
Meals and Entertainment     10,300       5,400  
Stock Options     537,800       10,900  
Stock Issued for Debt Extinguishment     –       14,300  
Other     4,700       –  
Valuation Allowance     1,560,200       1,153,700  
    $ –     $ –