with that, the company has no debt....
Stockholders' equity |
close DEC 31 |
9 months prior |
| Preferred stock, $0.001 par value; 5,000,000 shares authorized, none issued or outstanding |
0 |
0 |
| Common stock, $0.001 par value, authorized 350,000,000, 293,328,330 shares issued and outstanding each period |
293,328 |
293,328 |
| Additional paid-in capital |
82,880,086 |
82,842,499 |
| Accumulated deficit |
(81,139,049) |
(81,272,373) |
| Total stockholders' equity |
2,034,365 |
1,863,454 |
| Total liabilities and stockholders' equity |
$ 2,374,520 |
$ 2,159,728 |
"12. INCOME TAXES
For the nine months ended December 31, 2014, the provision for income taxes consisted of $31,350 of foreign withholding taxes on payments in connection with a patent license agreement. Excluding the impact of foreign withholding taxes, the current year annual effective tax rate is estimated to be zero due to the anticipated utilization of available net operating loss (“NOL”) carryforwards to reduce U.S. taxable income.
At December 31, 2014, the Company had deferred tax assets associated with federal net operating losses (“NOLs”), related state NOLs, foreign tax credits and certain Federal and California research and development tax credits, but recorded a corresponding full valuation allowance as it is more likely than not that some portion or all of the deferred tax assets will not be realized.
The Company records a liability for uncertain tax positions when it is probable that a loss has been incurred and the amount can be reasonably estimated. At December 31, 2014, the Company has no liabilities for uncertain tax positions."
One license Dec 31st....Watch the bottom line grow
doni
