| Deferred income tax schedule |
| |
|
2014 |
|
|
2013 |
|
| NOL |
|
$ |
(36,638,304 |
) |
|
$ |
(35,372,287 |
|
| Net Loss |
|
|
(27,254,020 |
) |
|
|
(1,598,102 |
) |
| Shares issued for services |
|
|
17,928,309 |
|
|
|
984,696 |
|
| Shares issued for interest expense |
|
|
– |
|
|
|
102,203 |
|
| Amortization of Debt Discount |
|
|
– |
|
|
|
(5,695 |
) |
| Loss on conversion of debt |
|
|
3,993,295 |
|
|
|
39,000 |
|
| Loss on conversion of preferred stock |
|
|
5,895,000 |
|
|
|
– |
|
| Gain on forgiveness of debt |
|
|
(1,633,380 |
) |
|
|
(277,085 |
) |
| NOL |
|
$ |
(37,709,100 |
) |
|
$ |
(36,638,304 |
|
| Effective Rate |
|
|
0.34 |
|
|
|
0.34 |
|
| Deferred Tax Asset |
|
|
(12,821,094 |
) |
|
|
(12,457,023 |
) |
| Valuation Allowance |
|
|
12,821,094 |
|
|
|
12,457,023 |
|
| Deferred Tax Asset |
|
$ |
– |
|
|
$ |
– |
|
|