Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Income Tax (Tables)

v3.8.0.1
Income Tax (Tables)
12 Months Ended
Dec. 31, 2017
Income Tax [Abstract]  
Schedule of deferred tax assets to recoverable amounts

 

    As of December, 31  
Composition of deferred tax assets:   2017     2016     2015  
Net loss carry-forward   $ 814,000     $ 531,522     $ 446,684  
Valuation allowance     (814,000 )     (531,522 )     (446,684 )
      -       -       -  

Schedule of statutory income tax rate to the effective income tax rate

 

    Year Ended December 31,  
    2017     2016     2015  
                   
Tax rate     24 %     25 %     26.5 %
                         
Tax expense (benefit) at statutory rate   $ (642,090 )   $ (163,365 )   $ (216,913 )
Tax rate differential     28,057       (55,376 )     -  
Decrease in taxes from permanent differences in stock-based compensation     27,301       52,545       58,098  
Decrease in taxes from permanent difference in warrants liabilities     304,254       29,394       9,325  
Loss carryforwards-change in valuation allowance     282,478       136,802       149,490  
Income tax expense (benefit)   $ -     $ -     $ -