Note 5 – Income Taxes

As of March 31, 2017, the Company had net operating loss carry forwards of $1,413,662 that may be available to reduce future years’ taxable income in varying amounts through 2036. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

The approximate cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax asset amount is as follows as of March 31, 2017, March 31, 2016 and February 29, 2016:

The net change in the total valuation allowance for the years ended March 31, 2017 and February 29, 2016 were $173,641 and $116,546, respectively. The net change in the total valuation allowance for one month ended March 31, 2016 was $11,504.