Quarterly report pursuant to Section 13 or 15(d)

INCOME TAXES (Tables)

v3.3.0.814
INCOME TAXES (Tables)
9 Months Ended
Sep. 30, 2015
INCOME TAXES [Abstract]  
Income tax provision (benefit)
The income tax provision (benefit) for the three and nine months ended September 30, 2015 and 2014 consists of the following:

   
Three Months Ended
September 30,
   
Nine Months Ended
September 30,
 
   
2015
   
2014
   
2015
   
2014
 
Current Income Taxes (Benefit)
  $ (77,544 )   $ -     $ (73,599 )   $ -  
Deferred Income Taxes (Benefit)
                               
Federal
    (116,171,555 )     32,562,000       (360,106,555 )     33,797,000  
State
    (3,964,000 )     2,488,000       (12,287,000 )     2,603,000  
Valuation Allowance
    120,135,555       -       170,043,000       -  
Total Provision (Benefit)
  $ (77,544 )   $ 35,050,000     $ (202,424,154 )   $ 36,400,000