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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2013
Components of Net Deferred Tax Assets

The components of the net deferred tax assets are as follows at December 31:

 

     2013     2012  
     (in thousands)  

Operating loss carryforwards

   $ 25,881      $ 21,753   

Tax credit carryforwards

     400        317   

Other temporary differences

     4,302        2,921   
  

 

 

   

 

 

 
     30,583        24,991   

Less valuation allowance

     (30,583     (24,991
  

 

 

   

 

 

 

Net deferred tax asset

   $ —       $ —    
  

 

 

   

 

 

 
Primary Factors Affecting Income Tax Rates

The primary factors affecting the Company’s income tax rates were as follows:

 

     2013     2012  

Tax benefit at U.S. statutory rates

     (34 %)      (34 %) 

State tax benefit

     (5.3 %)      (5.3 %) 

Credit

     0     (0.2 %) 

Permanent differences

     0.9     1.4

Expiring state NOL’s

     1.8     3.3

Changes in valuation allowance

     36.6     34.8
  

 

 

   

 

 

 
     0     0