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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Taxes [Abstract]  
Schedule of Net Loss Before Income Taxes



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

For the Years Ended

 



 

December 31,

 



 

2018

 

2017

 

Domestic, current

 

$

(9,542)

 

$

(7,995)

 

Total

 

$

(9,542)

 

$

(7,995)

 



Schedule of Deferred Taxes



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

For the Years Ended

 



 

December 31,

 



 

2018

 

2017

 

Deferred tax assets:

 

 

 

 

 

 

 

Federal and state net operating loss carryforwards

 

$

30,350 

 

$

28,399 

 

Research and development tax credit carryforwards

 

 

2,438 

 

 

2,338 

 

Stock based compensation

 

 

1,470 

 

 

1,674 

 

Other provision and expenses not currently deductible

 

 

1,345 

 

 

877 

 

Total deferred tax assets

 

 

35,603 

 

 

33,288 

 

Deferred tax liabilities:

 

 

 

 

 

 

 

Depreciation and amortization

 

 

(726)

 

 

(721)

 

Prepaid expenses

 

 

(151)

 

 

(94)

 

Total deferred liabilities

 

 

(877)

 

 

(815)

 

Less valuation allowance

 

 

(34,726)

 

 

(32,473)

 

Net deferred tax asset

 

$

 —

 

$

 —

 



Schedule of Federal Net Operating Losses and Tax Credit Carryforwards



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

 

Net

 

 

Research and

 



 

 

Operating

 

 

Development

 



 

 

Losses

 

 

Tax Credits

 



 

(in thousands)

 

2018-2020

 

$

30,281 

 

$

809 

 

2021-2024

 

 

41,283 

 

 

 -

 

2025-2037

 

 

71,055 

 

 

1,629 

 



 

$

142,619 

 

$

2,438 

 



Schedule of Reconciliation of Effective Tax Rate



 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

For the Years Ended

 



 

December 31,

 



 

2018

 

2017

 

U.S. Federal income tax benefit at federal statutory rate

 

 

21 

%

 

34 

%

Change in valuation allowance as a result of TCJA

 

 

 -

 

 

(228)

 

Change in valuation allowance

 

 

(21)

 

 

217 

 

Cumulative adjustment for NQSO compensation expense

 

 

(3)

 

 

(24)

 

Other, net

 

 

 

 

 

Effective tax rate

 

 

 -

%

 

 -

%