Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income tax (benefit) provision

The income tax provision consists of the following ($ in thousands):

dollars in thousands
	As of December 31,
	2016			2015
Federal
Current	$	-		$	-
Deferred		3,578			16,374
Increase in valuation allowance		3,578			(16,374	)
State and local
Current		-			-
Deferred		(50	)		837
Increase in valuation allowance		50			(837	)
Change in Valuation Allowance		(3,578	)		(17,211	)
Income Tax Provision (Benefit)	$	-			-

Schedule of Reconciliation of the expected tax expense (benefit)

The following is a reconciliation of the U.S. federal statutory rate to the effective income tax rates for the years ended December 31, 2016 and 2015:

	For the years ended December 31,
	2016			2015
U.S. Statutory Federal Rate		34.00	%		34.00	%
State Taxes, Net of Federal Tax Benefit		2.97	%		2.52	%
Other Permanent Differencee		1.01	%		0.01	%
State rate change effect		6.88	%		-0.75	%
Fair Value of Warrants		11.85	%		0.00	%
Increase due to change in NOL and other true ups		(1.47	)%		-2.35	%
Change in Valuation Allowance		-55.25	%		-33.43	%
Income Taxes Provision (Benefit)		0.0			0.0

Schedule of deferred tax assets and liabilities

At December 31, 2016 and 2015, the Company’s deferred tax assets and liabilities consisted of the effects of temporary differences attributable to the following ($ in thousands):

dollars in thousands
	As of December 31,
	2016			2015
Deferred tax assets:
Net-operating loss carryforward	$	12,971		$	10,290
Stock based compensation		8,413			8,101
Patent portfolio and other		17,796			17,211
Total Deferred Tax Assets		39,180			35,602
Valuation allowance		(39,180	)		(35,602	)
Deferred Tax Asset, Net of Allowance	$	-		$	-