Quarterly report pursuant to Section 13 or 15(d)

NOTE 7 - INCOME TAXES

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NOTE 7 - INCOME TAXES
 3 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Income Tax Disclosure [Text Block]
NOTE 7 – INCOME TAXES

Pursuant to ASC 740, the Company is required to compute tax asset benefits for net operating losses carried forward. Potential benefit of net operating losses have not been recognized in these financial statements because the Company cannot be assured it is more likely than not it will utilize the net operating losses carried forward in future years.

The components of the net deferred tax asset are as follows:

   
December 31,
   
March 31,
 
   
2013
   
2013
 
    $       $    
Deferred Tax Assets
               
Non-Capital Losses Carry-Forward
    212,643       205,159  
Valuation Allowance
    (212,643 )     (205,159 )
 
               
Net Deferred Tax Assets
    -       -  

For the period ended December 31, 2013 and March 31, 2013, a reconciliation of the statutory tax rate to the effective tax rate is as follows:

Statutory Tax Rate
    35 %
Increase in Valuation Allowance
    (35 %)
 
       
Effective Tax Rate
    0 %

Potential benefits of income tax losses are not recognized until realization is more likely than not.  As at December 31, 2013, the Company has a net operating loss carry-forward of $602,625 which may be applied to reduce future taxable income in the United States.  The net operating losses expire as follows:

      $  
2029
    8,538  
2030
    59,039  
2031
    389,742  
2032
    74,121  
2033
    54,728  
2034
    21,382  
         
      607,550