NOTE 3 - INCOME TAXES
No provision was made for
federal income tax for the year ended September 30, 2012, since the Company had a net operating loss. The net operating loss carry-forwards
may be used to reduce taxable income through the year 2028. The availability of the Company’s net operating loss carry-forwards
are subject to limitation if there is a 50% or more positive change in the ownership of the Company’s stock. The provision
for income taxes consists of the state minimum tax imposed on corporations.
The net operating loss carry-forward
for federal and state income tax purposes of approximately $69,138 as of September 30, 2012.
The Company has recorded
a 100% valuation allowance for the deferred tax asset since it is “more-likely- than-not” that the deferred tax assets
will not be realized.