Annual report pursuant to Section 13 and 15(d)

4 Income Taxes (Tables)

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4 Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Deferred taxes components

 

             
Deferred taxes consists of:            
    December 31,  
    2016     2015  
 Deferred tax assets (Liabilities):            
             
 Prepaid Expenses   $ (316 )   $ (281 )
 Other Assets     914       639  
 Net operating loss and other carryforwards     31,783       22,490  
 Total deferred tax asset / (Liability) net     32,381       22,848  
                 
 Total deferred tax assets / (Liabilities)     32,381       22,848  
 Valuation allowance     (32,381 )     (22,848 )
 Net deferred tax assets / (Liabilities)   $ -     $ -  

Reconciliation tax benefit

 

                 
The expense or benefit for income taxes differs from the amount computed by applying the U.S. federal          
income tax rate of 15% to income or loss before income taxes as follows for the years ended:                
                 
      2016       2015  
                 
U.S. federal income tax expense\(benefit) at statutory rates   $ (7,929 )   $ (9,881 )
State income tax expense\(benefit), net of federal impact     (1,604 )     (2,595 )
Change in valuation allowance     9,533       12,476  
Total    $   -     $   -