Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Income Taxes (Policies)

v2.4.0.6
Note 2 - Income Taxes (Policies)
 9 Months Ended
Sep. 30, 2012
Policies  
Income Taxes

Income taxes

 

Income tax provisions or benefits for interim periods are computed based on the Company’s estimated annual effective tax rate. Based on the Company's historical losses and its expectation of continuation of losses for the foreseeable future, the Company has determined that it is not more likely than not that deferred tax assets will be realized and, accordingly, has provided a full valuation allowance. As the Company anticipates or anticipated that its net deferred tax assets at December 31, 2012 and 2011 would be fully offset by a valuation allowance, there is no federal or state income tax benefit for the three and nine months ended September 30, 2012 and 2011 related to losses incurred during such periods.