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INCOME TAXES (Details) (USD $)
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3 Months Ended | 9 Months Ended | |||
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Sep. 30, 2013
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Sep. 30, 2012
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Sep. 30, 2013
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Sep. 30, 2012
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Dec. 31, 2012
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| Deferred tax assets: | |||||
| Net operating loss carryforwards | $ 668,000 | $ 668,000 | $ 266,000 | ||
| Non-deductible start-up costs | 530,000 | 530,000 | 530,000 | ||
| Total deferred tax assets | 1,198,000 | 1,198,000 | 796,000 | ||
| Total deferred tax assets | 551,000 | 551,000 | 366,000 | ||
| Less: Valuation Allowance | (551,000) | (551,000) | (366,000) | ||
| Net Deferred Tax Assets | |||||
| Reconciliation between the statutory rate and the effective tax rate: | |||||
| Federal statutory tax rate | (35.00%) | (35.00%) | (35.00%) | (35.00%) | |
| State and city tax rate | (11.00%) | (11.00%) | (11.00%) | (11.00%) | |
| Change in valuation allowance | 46.00% | 46.00% | 46.00% | 46.00% | |
| Effective tax rate | 0.00% | 0.00% | 0.00% | 0.00% | |
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- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from reserves and accruals. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to changes in the valuation allowance for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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