Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.10.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]
The income tax (benefit) provision consists of the following (in thousands):
 
 
 
For The Years Ended
 
 
 
December 31,
 
 
 
2018
 
 
2017
 
Federal:
 
 
 
 
 
 
 
 
Current
 
$
     -
 
 
$
 -
 
Deferred
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
State and local:
 
 
 
 
 
 
 
 
Current
 
 
-
 
 
 
-
 
Deferred
 
 
-
 
 
 
-
 
 
 
 
 
 
 
 
 
 
Income tax provision
 
$
-
 
 
$
-
 
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
For the years ended December 31, 2018 and 2017, the expected tax expense based on the federal statutory rate reconciled with the actual tax expense is as follows:
 
 
 
For The Years Ended
 
 
 
December 31,
 
 
 
2018
 
 
2017
 
U.S. federal statutory rate
 
 
21.00
%
 
 
34.00
%
State tax rate, net of federal benefit
 
 
4.33
%
 
 
4.45
%
Permanent differences
 
 
 
 
 
 
 
 
- Change in fair value of warrant liability
 
 
(0.08
)%
 
 
5.80
%
- Other
 
 
(0.05
)%
 
 
(0.14
)%
Adjustments to deferred taxes
 
 
(27.61
)%
 
 
(41.01
)%
Tax Reform - Federal Rate Change
 
 
0.00
%
 
 
(321.36
)%
Tax Reform - Change in valuation allowance
 
 
0.00
%
 
 
321.36
%
Change in valuation allowance
 
 
2.41
%
 
 
(3.10
)%
 
 
 
 
 
 
 
 
 
Income tax provision
 
 
(0.00
)%
 
 
0.00
%
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
As of December 31, 2018 and 2017, the Company’s deferred tax assets consisted of the effects of temporary differences attributable to the following (in thousands):
 
 
 
As of December 31,
 
 
 
2018
 
 
2017
 
Deferred tax assets:
 
 
 
 
 
 
 
 
Net operating loss carryforwards
 
$
26,498
 
 
$
29,580
 
Stock-based compensation
 
 
3,673
 
 
 
5,598
 
Goodwill and Tradename
 
 
29
 
 
 
32
 
Accruals
 
 
135
 
 
 
694
 
Transaction costs
 
 
214
 
 
 
39
 
Other
 
 
171
 
 
 
364
 
Total deferred tax assets
 
 
30,720
 
 
 
36,307
 
Valuation allowance
 
 
(30,695
)
 
 
(30,864
)
Deferred tax assets, net of valuation allowance
 
$
25
 
 
$
5,443
 
 
 
 
 
 
 
 
 
 
Deferred tax liabilities:
 
 
 
 
 
 
 
 
Property and equipment
 
 
(25
)
 
 
(65
)
Intangible assets
 
 
-
 
 
 
(5,378
)
Total deferred tax liabilities
 
 
(25
)
 
 
(5,443
)
 
 
 
 
 
 
 
 
 
Net deferred tax liabilities
 
$
-
 
 
$
-