Ekso Bionics Holdings, Inc. Annual report pursuant to section 13 and 15(d)

Annual report pursuant to section 13 and 15(d)

Note 7 - Income Taxes

Note 7 - Income Taxes

12 Months Ended

Mar. 31, 2013

NOTE 7 – INCOME TAXES

As of March 31, 2013, the Company had net operating loss carry forwards of approximately $16,949 that may be available to reduce future years’ taxable income in varying amounts through 2033. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

The provision for Federal income tax consists of the following for the periods ended March 31:

	2013	2012
Federal income tax benefit attributable to:
Current Operations	$ 4,179	$ 1,583
Less: valuation allowance	(4,179)	(1,583)
Net provision for Federal income taxes	$ 0	$ 0

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows as of March 31:

	2013	2012
Deferred tax asset attributable to:
Net operating loss carryover	$ 5,762	$ 1,583
Less: valuation allowance	(5,762)	(1,583)
Net deferred tax asset	$ 0	$ 0

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $16,949 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.