| Provision for income taxes is comprised of the following: | |||||||
| 30-Sep-17 | 30-Sep-16 | ||||||
| Net loss before provision for income taxes | ($1,222,007) | ($1,881,136) | |||||
| Current tax expense: | |||||||
| Federal | $0 | $0 | |||||
| State | 0 | 0 | |||||
| Total | 0 | 0 | |||||
| Less deferred tax benefit: | |||||||
| Tax loss carryforwards | (5,538,905) | (4,187,180) | |||||
| Allowance for recoverability | 5,538,905 | 4,187,180 | |||||
| Provision for income taxes | $0 | $0 | |||||
| A reconciliation of provision for income taxes at the statutory rate to provision | |||||||
| for income taxes at the Company's effective tax rate is as follows: | |||||||
| Statutory U.S. federal rate | 34.00% | 34.00% | |||||
| Statutory state and local income tax | 10.00% | 10.00% | |||||
| Less allowance for tax carryforward | -44.00% | -44.00% | |||||
| Effective rate | 0.00% | 0.00% | |||||
| Note: The deferred tax benefits arising from the timing differences begin to expire in fiscal year | |||||||
| 2033 and 2034 and may not be recoverable upon the purchase of the Company under current IRS statutes. | |||||||