Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of Components of Net Deferred Tax Assets

Significant components of the Company’s deferred tax assets and liabilities are as follows:

 

    December 31, 2015     December 31, 2014  
             
Net operating loss carry-forwards   $ 2,640,747     $ 684,364  
Share based compensation     655,484       250,123  
Amortization of intangible assets     576,150       -  
Accrued officers compensation     35,325       -  
State taxes     (231,259 )     (65,562 )
Less: Valuation allowance     (3,676,447 )     (868,925 )
Deferred tax assets, net   $ -     $ -  

 
Schedule of Provision of Income Taxes

The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes were as follows:

 

    December 31, 2015     December 31, 2014  
             
Statutory federal income tax rate     34.0 %     34.0 %
State taxes, net of federal benefit     6.4 %     5.4 %
Non-deductible items     -0.1 %     -2.3 %
Change in valuation allowance     -40.3 %     -37.1 %
      0.0 %     0.0 %