As of
December
31,
2016,
the Company has net operating loss carry forwards of approximately
$3,120,000
that
may
be available to reduce future years’ taxable income. 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.