Quarterly report pursuant to Section 13 or 15(d)

NOTE 10 - INCOME TAXES (Tables)

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NOTE 10 - INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] The foregoing amounts are management’s estimates and the actual results could differ from those estimates. Future profitability in this competitive industry depends on continually obtaining and fulfilling new profitable sales agreements and modifying products. The inability to obtain new profitable contracts could reduce estimates of future profitability, which could affect the Company’s ability to realize the deferred tax assets.

   
Nine Months Ended
 
   
September 30,
   
September 30,
 
   
2015
   
2014
 
Current:
             
Federal
 
$
215,833
   
$
  268,528
 
State and local
   
  23,982
     
29,836
 
                 
Total current tax provision
   
  239,815
     
  298,364
 
                 
Deferred:
               
Federal
   
  25,650
     
  26,100
 
State and local
   
  2,850
     
  2,900
 
Release of valuation allowance
   
(200,000
)
   
  -
 
              
               
Total deferred tax provision (benefit)
   
(171,500
)
   
  29,000
 
                 
Total provision
 
$
68,315
   
$
  327,364