PHARMA INVESTING NEWS, INC. - FORM 10-K - XML - IDEA: XBRL DOCUMENT - June 12, 2012



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EX-32.1 - EXHIBIT 32.1 SECTION 906 CERTIFICATION - PHARMA INVESTING NEWS, INC.f10k022912_ex32z1.htm
EX-31.2 - EXHIBIT 31.2 SECTION 302 CERTIFICATION - PHARMA INVESTING NEWS, INC.f10k022912_ex31z2.htm
EX-31.1 - EXHIBIT 31.1 SECTION 302 CERTIFICATION - PHARMA INVESTING NEWS, INC.f10k022912_ex31z1.htm
10-K - FORM 10-K ANNUAL REPORT - PHARMA INVESTING NEWS, INC.f10k022912_10k.htm
v2.4.0.6
Income Taxes
12 Months Ended
Feb. 29, 2012
Income Taxes  
Income Taxes

5.

Income Taxes

 

The Company has $90,697 of net operating losses carried forward to offset taxable income in future years which expire commencing in fiscal 2031.  The income tax benefit differs from the amount computed by applying the US federal income tax rate of 34% to net loss before income taxes. As at February 29, 2012, the Company had no uncertain tax positions.  

 

 

 

February 29,

2012

$

February 28,

2011

$

 

 

 

 

Net loss before taxes

 

(84,697)

(6,000)

Statutory rate

 

34%

34%

 

 

 

 

Computed expected tax recovery

 

28,797

2,040

Valuation allowance

 

(28,797)

(2,040)

 

 

 

 

Income tax provision

 

 

 

The significant components of deferred income tax assets and liabilities at February 29, 2012 and February 28, 2011 are as follows:

 

 

 

February 29,

2012

$

 

February 28,

2011

$

 

 

 

 

 

Net operating loss carried forward

 

30,837

 

2,040

 

 

 

 

 

Valuation allowance

 

(30,837)

 

(2,040)

 

 

 

 

 

Net deferred income tax asset

 

 

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