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

Income Taxes (Tables)

v3.5.0.2
Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2016
Income Tax Disclosure [Abstract]  
Schedule of tax effects of temporary differences of deferred tax assets and liabilities

The sources and tax effects of the differences are as follows for the period ended March 31, 2016 and 2015:

 

    March 31, 2016     March 31, 2015  
Income taxes at Federal statutory rate     (34.00 )%     (34.00 )%
State income taxes, net of Federal income tax benefit     (2.54 )%     (3.96 )%
Permanent differences     1.07 %     0.00 %
Change in Valuation Allowance     35.32 %     37.96 %
State tax rate change     0.16 %     0.00 %
Income Tax Provision     0.00 %     0.00 %
Schedule of deferred tax assets

The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows:

 

   

March 31,

2016

     March 31, 2015  
Net Operating Loss Carryforwards   $ 1,264,686     $ 159,721  
Share-based compensation     236,645       –  
Other     (21,324 )     9,713  
      1,480,007       169,434  
Valuation Allowance     (1,480,007 )     (169,434 )
Net Deferred Tax Assets   $ –     $ –