General form of registration statement for all companies including face-amount certificate companies

Income Taxes (Tables)

v2.4.0.8
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2013
Income Tax Disclosure [Abstract]  
Schedule of deferred tax assets and liabilities

   
2013
   
2012
 
                 
Net tax loss carry forwards   
 
$
11,982,779
   
$
    2,358,000
 
Stock based compensation
   
2,805,860
     
 1,549,000
 
Provision for warrant liability
   
606,800
     
--
 
Allowance for advanced commission
   
158,158
     
--
 
Intangible assets/goodwill
   
248,741
     
--
 
Deferred rent
   
2,691
     
--
 
Amortization of debt discount
   
--
     
21,000
 
Derivative liability
   
(735,824
   
--
 
Property and equipment
   
(833,294
   
(98,000
Tax credit carry forward
   
379,000
     
 255,000
 
     
14,614,911
     
 4,085,000
 
Valuation allowance
   
(14,614,911
   
(4,085,000
Non current deferred income tax assets
 
$
--
   
$
--  
 
Summary of reconciliation of federal statutory income tax rate and effective income tax rate

   
For the Year Ended December 31,:
 
   
2013
   
2012
 
Federal statutory income tax rate
    35.0 %    
35.0
%
State taxes net of federal benefit
    --      
--
 
      35       35  
Permanent differences
    (1.71    
0.61
 
Change in valuation allowance on net deferred tax assets
    (33.29    
(35.61
)   
Effective income tax rate
    0.00 %     0.0 %