INCOME TAXES	9 Months Ended
Oct. 31, 2012
INCOME TAXES
INCOME TAXES	4. INCOME TAXES Provision for income taxes is comprised of the following: 31-Oct-12 31-Oct-11 ----------- ----------- Net income (loss) before provision for income taxes $ (299,902) $ (510,351) =========== =========== Current tax expense: Federal $ 0 $ 0 State 0 0 ----------- ----------- Total 0 0 Less deferred tax benefit: Tax loss carryforwards (4,805,094) 0 Less allowance for tax recoverability 4,805,094 0 ----------- ----------- Provision for income taxes $ 0 $ 0 =========== =========== Deferred tax asset: Tax loss carry forwards $ 4,805,094 $ 7,486,441 Less valuation allowance (4,805,094) (6,286,441) ----------- ----------- Net deferred tax asset $ 0 $ 1,200,000 =========== =========== Note: The deferred tax benefits arising from the timing differences expires in fiscal years 2031 and 2032 and may not be recoverable upon the purchase of the Company under current IRS statutes.

INCOME TAXES

9 Months Ended

Oct. 31, 2012

4.  INCOME TAXES

Provision for income taxes is comprised of the following:

                                                              31-Oct-12             31-Oct-11

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

Net income (loss) before provision for income taxes          $  (299,902)          $  (510,351)

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

Current tax expense:

  Federal                                                    $         0           $         0

  State                                                                0                     0

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

Total                                                                  0                     0

Less deferred tax benefit:

  Tax loss carryforwards                                      (4,805,094)                    0

  Less allowance for tax recoverability                        4,805,094                     0

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

Provision for income taxes                                   $         0           $         0

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

Deferred tax asset:

  Tax loss carry forwards                                    $ 4,805,094           $ 7,486,441

  Less valuation allowance                                    (4,805,094)           (6,286,441)

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

Net deferred tax asset                                       $         0           $ 1,200,000

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

Note: The deferred tax benefits arising from the timing differences expires in

fiscal years 2031 and 2032 and may not be recoverable upon the purchase of the

Company under current IRS statutes.

- 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

ADVANCED TECHNOLOGIES GROUP LTD 10-Q