MariMed Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

NOTE 7 - INCOME TAXES (Tables)

NOTE 7 - INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2013

The Company’s total deferred tax asset as of June 30, 2013 is as follows:


Net operating loss	$	579,000
Valuation allowance		(579,000)

Net deferred tax asset	$	—

Reconciliation of income taxes

	2013			2012
Income tax computed at the federal statutory rate		34	%		34	%
Income tax computed at the state statutory rate		5	%		5	%
Valuation allowance		(39	%)		(39	%)
Total deferred tax asset		0	%		0	%

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

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