Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v2.4.0.8
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2012
Income Taxes [Abstract]  
Differences between the carrying amount of assets and liabilities for financial reporting purposes
                 
December 31   2012     2011  

Deferred tax assets:

  $       $    

Net operating loss carryforwards

    18,182,000       15,065,000  

Charitable contributions

    2,800       3,000  

Inventory Reserves

    365,600       163,000  

Stock-based compensation

    52,300       361,000  
   

 

 

   

 

 

 

Total deferred tax assets

    18,602,700       15,592,000  
   

 

 

   

 

 

 

Deferred tax liabilities:

               

Depreciation

    (154,900     (160,000

Amortization

    (51,700     (51,000
   

 

 

   

 

 

 

Total deferred tax liabilities

    (206,600     (211,000
   

 

 

   

 

 

 

Net deferred tax assets

    18,396,100       15,381,000  
   

 

 

   

 

 

 

Valuation allowance

    (18,396,100     (15,381,000