Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of deferred income tax assets and liabilities

The tax effect of temporary differences and net operating losses that give rise to components of deferred income tax assets and liabilities consist of the following:

 

    As of December 31,  
    2016     2015  
Deferred income tax assets (liabilities):                
Property and equipment   $ 107,308     $ (35,232 )
Deferred revenue     88,877       46,211  
Accrued expenses     53,112       53,112  
Share based compensation     3,186,133       2,110,364  
Derivative liability     164,258       -  
Other     248,561       216,544  
Net operating loss carryforwards     30,800,732       28,798,998  
      34,648,981       31,189,997  
Less valuation allowance     (34,648,981 )     (31,189,997 )
    $ -     $ -