Worlds Inc (WDDD)

[pennystock_es]

At December 31, 2021, the Company had federal and state net operating loss carry forwards of approximately $45,000,000 that expire in various years through the year 2041.



Due to net operating loss carry forwards and operating losses, there is no provision for current federal or state income taxes for the years ended December 31, 2021 and 2020.



Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for federal and state income tax purposes.



The Company’s deferred tax asset at December 31, 2021 consists of net operating loss carry forwards calculated using federal and state effective tax rates equating to approximately $17,292,188 less a valuation allowance in the amount of approximately $17,292,188. Because