Quarterly report pursuant to sections 13 or 15(d)

Income Taxes

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Income Taxes
3 Months Ended
Dec. 31, 2011
Income Taxes

Note 8: Income Taxes

At December 31, 2011, the Company maintains a valuation allowance against its deferred tax assets. The Company determined that such a valuation allowance was necessary given the current and expected near term losses and the uncertainty with respect to the Company’s ability to generate sufficient profits from its new business model.

 

During the three months ended December 31, 2011, the Company did not incur any income tax benefit associated with its net loss due to the establishment of a valuation allowance against deferred tax assets generated during the period.