Quarterly report pursuant to Section 13 or 15(d)

DEFERRED TAX EXPENSE (Tables)

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DEFERRED TAX EXPENSE (Tables)
 6 Months Ended
Jun. 30, 2015
Deferred Tax Expense Tables  
Deferred tax assets and liabilities

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

 

   

June 30,

2015

    

December 31,

2014

  
Deferred income tax assets:            
Allowance for bad debt   $ 66,000     $ 21,000  
Warrants expense     2,943,000       2,216,000  
Derivatives expense     902,000       1,274,000  
Net operating losses     3,970,000       3,227,000  
      7,881,000       6,738,000  
Valuation allowance     (7,881,000 )     (6,738,000 )
                 
Net deferred tax assets   $ -     $ -