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Income Taxes
6 Months Ended
Jun. 30, 2019
Income Tax Disclosure [Abstract]  
Income Taxes

7. INCOME TAXES

 

The Company’s available net operating loss (“NOL”) at December 31, 2018 was approximately $15 million. The federal and state NOLs incurred in all years through 2017 are available to offset future taxable income and expire from 2019 through 2038 if not utilized. The 2018 gross NOL incurred for the year ended December 31, 2018 can be utilized at 80% with no expiration. There can be no assurance that the Company will realize any benefit of the NOLs. The Company has a full valuation allowance on its deferred tax assets since management continues to believe that it is more likely than not that these assets will not be realized.