Quarterly report pursuant to sections 13 or 15(d)

Income Taxes

Income Taxes
3 Months Ended
Jun. 30, 2012
Income Taxes
  14. Income Taxes


The income tax provision for the quarter represents foreign withholding taxes related to continuing operations paid in jurisdictions outside of the US.


Management has evaluated and concluded that there are no significant uncertain tax positions requiring recognition in the Company’s financial statements as of June 30, 2012.


ASC 740 requires the consideration of a valuation allowance to reflect the likelihood of realization of deferred tax assets. Significant management judgment is required in determining any valuation allowance recorded against deferred tax assets. The Company adopted the provisions of ASC 740 on January 1, 2008 and there was no difference between the amounts of unrecognized tax benefits recognized in the balance sheet prior to the adoption of ASC 740 and those after the adoption of ASC 740. There were no unrecognized tax benefits not subject to valuation allowance as of June 30, 2012 and March 31, 2012. The Company recognized no interest and penalties on income taxes in its statement of operations for the periods ended June 30, 2012 and 2011.