INCOME TAXES	12 Months Ended
Feb. 29, 2012
INCOME TAXES
INCOME TAXES	7. INCOME TAXES There is no current or deferred income tax expense or benefit for the years ended February 29, 2012 and February 28, 2011. The provision for income taxes is different from that which would be obtained by applying the statutory federal income tax rate to income before income taxes. The items causing this difference are as follows: Year ended --------------------------------- February 29, February 28, 2012 2011 -------- -------- Tax benefit at U.S. statutory rate $ 104,056 $ 9,940 State income tax benefit, net of federal benefit 11,232 1,061 Effect of non-deductible expenses (60) -- Employee stock-based compensation (51,608) -- Change in valuation 18,061 -- Amortization of debt discount (143) -- Change in valuation allowance (81,538) (11,001) --------- --------- $ -- $ -- ========= ========= As of February 29, 2012 and February 28, 2011, the Company had federal and state net operating loss carry-forwards totaling approximately $92,539 and $11,001, respectively, which begin expiring in 2032. The Company has established a valuation allowance to fully reserve all deferred tax assets at February 29, 2012 and February 28, 2011 because it is more likely than not that the Company will not be able to utilize these assets. The change in the valuation allowance for the years ended February 29, 2012 and February 28, 2011 was an increase of $81,538 and $11,001, respectively. As of February 29, 2012, the Company has not performed an IRC Section 382 study to determine the amount, if any, of its net operating losses that may be limited as a result of the ownership change percentages during 2011. However, the Company will complete the study prior to the utilization of any of its recorded net operating losses.

INCOME TAXES

12 Months Ended

Feb. 29, 2012

7. INCOME TAXES

There is no current or  deferred  income  tax  expense or benefit  for the years

ended February 29, 2012 and February 28, 2011.

The provision for income taxes is different from that which would be obtained by

applying the  statutory  federal  income tax rate to income before income taxes.

The items causing this difference are as follows:

                                                      Year ended

                                           ---------------------------------

                                           February 29,         February 28,

                                              2012                 2011

                                            --------             --------

Tax benefit at U.S. statutory rate          $ 104,056            $   9,940

State income tax benefit, net of

 federal benefit                               11,232                1,061

Effect of non-deductible expenses                 (60)                  --

Employee stock-based compensation             (51,608)                  --

Change in valuation                            18,061                   --

Amortization of debt discount                    (143)                  --

Change in valuation allowance                 (81,538)             (11,001)

                                            ---------            ---------

                                            $      --            $      --

                                            =========            =========

As of February 29, 2012 and February 28, 2011, the Company had federal and state

net operating loss carry-forwards  totaling  approximately  $92,539 and $11,001,

respectively,  which begin  expiring in 2032.  The  Company  has  established  a

valuation  allowance  to fully  reserve all  deferred tax assets at February 29,

2012 and  February  28, 2011 because it is more likely than not that the Company

will not be able to utilize these assets. The change in the valuation  allowance

for the years ended  February  29, 2012 and February 28, 2011 was an increase of

$81,538 and $11,001, respectively.

As of February 29, 2012,  the Company has not performed an IRC Section 382 study

to determine the amount, if any, of its net operating losses that may be limited

as a result of the  ownership  change  percentages  during  2011.  However,  the

Company will complete the study prior to the  utilization of any of its recorded

net operating losses.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 136, 172

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 109

-Paragraph 43, 44, 45, 46, 47, 48, 49

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph h

-Article 4

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 15

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(h))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

+ Details

Amwest Imaging Inc 10-K