Deferred taxes as of May 31, 2013 and 2012 are as follows:
|
|
| 2013 |
|
| 2012 |
| ||
| Net operating loss carryforward |
| $ | 1,965,370 |
|
| $ | 2,548,931 |
|
|
|
|
|
|
|
|
|
|
|
| Depreciation and amortization, financial reporting in excess of tax |
|
| 443,177 |
|
|
| 617,466 |
|
| Deferred compensation accrual |
|
| 244,800 |
|
|
| 244,800 |
|
| Stock compensation costs |
|
| 18,164 |
|
|
| - |
|
| Allowance for doubtful accounts |
|
| 34,000 |
|
|
| 17,000 |
|
|
|
|
| 2,705,511 |
|
|
| 3,428,197 |
|
| Valuation allowance |
|
| (1,546,511 | ) |
|
| (2,843,197 | ) |
|
|
|
|
|
|
|
|
|
|
| Net Deferred Tax Asset |
| $ | 1,159,000 |
|
| $ | 585,000 |
|