NOTE 9—INCOME TAXES
Net deferred tax assets consist of the following components:
| December 31, | December 31, | |||||||
| 2015 | 2016 | |||||||
| Deferred tax asset: | ||||||||
| Net operating loss carryforwards | $ | (60,269 | ) | (72,650 | ) | |||
| Valuation allowance | 60,269 | 72,650 | ||||||
| Net deferred tax asset | $ | - | $ | - | ||||
The Company has accumulated net operating loss carryovers of approximately $207,570 as of December 31, 2016 which are available to reduce future taxable income. Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards for federal income tax reporting purposes may be subject to annual limitations. A change in ownership may limit the utilization of the net operating loss carry forwards in future years. The tax losses begin to expire in 2033. The fiscal years 2013 through 2016 remains open to examination by federal tax authorities and other tax jurisdictions.