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

DEFERRED TAX EXPENSE (Tables)

v2.4.1.9
DEFERRED TAX EXPENSE (Tables)
 3 Months Ended 12 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Deferred Tax Expense Tables    
Deferred tax assets and liabilities

The components of deferred tax assets and liabilities are as follows:

 

      March 31,
2015 		    December 31,
2014 		 
Deferred income tax assets:                
  Allowance for bad debt   $ 44,000     $ 21,000  
  Warrants expense     2,317,000       2,216,000  
  Derivatives expense     1,192,000       1,274,000  
  Net operating losses     3,350,000       3,227,000  
        6,903,000       6,738,000  
Valuation allowance     (6,903,000 )     (6,738,000 )
                   
Net deferred tax assets   $ -     $ -  
      December 31,
2014 		    December 31,
2013 		 
Deferred income tax assets:            
  Allowance for bad debt   $ 21.000     $ -  
  Warrants expense     2,216,000       -  
  Derivatives expense     1,274,000       -  
  Net operating losses     3,227,000       70,700  
        6,738,747       70,700  
Valuation allowance     (6,738,000 )     (70,700 )
                   
Net deferred tax assets   $ -     $ -  
Effective tax rate  
Effective Tax Rate   December 31,
2014 		    December 31,
2013 		 
Federal statutory     35.00 %     35.00 %
State and local, net of federal     5.84 %     5.84 %
Change in Valuation allowance     (40.84) %     (40.84) %
                 
Total effective tax rate     0.00 %     0.00 %