|6 Months Ended|
Jun. 30, 2018
|Income Tax Disclosure [Abstract]|
10 — INCOME TAXES
We have a net operating loss carry-forward for federal and state tax purposes of approximately $656,000 at June 30, 2018, that is potentially available to offset future taxable income, which will begin to expire in the year 2037. For financial reporting purposes, no deferred tax asset was recognized because at June 30, 2018, management estimates that it is more likely than not that substantially all of the net operating losses will expire unused. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences are deductible. The timing and manner in which we can utilize our net operating loss carryforward and future income tax deductions in any year may be limited by provisions of the Internal Revenue Code regarding the change in ownership of corporations. Such limitation may have an impact on the ultimate realization of our carryforwards and future tax deductions.
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef