Annual report pursuant to Section 13 and 15(d)

Note 11 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)

v2.4.1.9
Note 11 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)
12 Months Ended
Dec. 31, 2014
Tables/Schedules  
Schedule of Effective Income Tax Rate Reconciliation

Income taxes are provided for temporary differences between financial and tax bases of assets and liabilities. The following is a reconciliation of the amount of benefit that would result from applying the federal statutory rate to pretax loss with the benefit from income taxes for the years ended December 31, 2014 and 2013:

 

Rate Reconciliation

 

 

 

2014

2013

Federal income tax (benefit) at statutory rate (34%)

$(814,000)

$(2,552,000)

State income tax (benefit) , net of federal benefit

(7,000)

(100,000)

Foreign income tax benefit

-

-

Losses allocated to preferred members of GCE Mexico

743,000

1,971,000

Losses allocated GEHD

34,000

15,000

Share-based compensation

66,000

38,000

Expiration of operating loss and research credit carryforwards

-

-

Other differences

4,000

5,000

Change in valuation allowance

(26,000)

623,000

Income tax benefit

-

-