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EX-32.2 - EXHIBIT 32.2 - Universal Resourcesv328258_ex32-2.htm
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EX-31.1 - EXHIBIT 31.1 - Universal Resourcesv328258_ex31-1.htm
EX-32.1 - EXHIBIT 32.1 - Universal Resourcesv328258_ex32-1.htm
EX-31.2 - EXHIBIT 31.2 - Universal Resourcesv328258_ex31-2.htm
v2.4.0.6
Commitments and Contingencies
12 Months Ended
Mar. 31, 2012
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Disclosure [Text Block]
5.Income Tax Provision

 

Provision for income taxes is comprised of the following: 31-Mar-12 31-Mar-11
     
     
Net loss ($65,142) ($172,433)
     
Current tax expense:    
Federal $0 $0
State 0 0
Total $0 $0
     
Less deferred tax benefit:    
Timing differences (542,421) (520,273)
Allowance for recoverability 542,421 520,273
Provision for income taxes $0 $0
     
A reconciliation of provision for income taxes at the statutory rate to provision    
for income taxes at the Company's effective tax rate is as follows:    
     
Statutory U.S. federal rate 34% 34%
Statutory state and local income tax 0% 0%
Less allowance for tax recoverability -34% -34%
Effective rate 0% 0%
     
Deferred income taxes are comprised of the following:    
     
Timing differences $542,421 $520,273
Allowance for recoverability (542,421) (520,273)
Deferred tax benefit $0 $0

 

Note:  The deferred tax benefits arising from the timing differences expires in fiscal years 2020 through 2032 and may not be recoverable upon the purchase of the Company under current IRS statutes.