5. Income Taxes	9 Months Ended
Sep. 30, 2015
Notes to Financial Statements
NOTE 5 - Income Taxes	Income tax expense totaling approximately $85 and $358 has been recorded for the three and nine months ended September 30, 2015, respectively. As of September 30, 2015 and December 31, 2014, the Company’s net deferred tax assets totaled approximately $5,247 and $6,033, respectively, and are primarily composed of net operating loss carryforwards (“NOLs”), partially offset by deferred tax liabilities of $432 derived from the unrealized gain on available-for-sale securities. These NOLs total approximately $5,194 for federal and $13,813 for state purposes, with expirations starting in 2018 through 2030. In order to fully utilize the net deferred tax assets, the Company will need to generate sufficient taxable income in future years to utilize its NOLs prior to their expiration. ASC Topic 740, “Income Taxes”, requires the Company to analyze all positive and negative evidence to determine if, based on the weight of available evidence, the Company is more likely than not to realize the benefit of the net deferred tax assets. The recognition of the net deferred tax assets and related tax benefits is based upon the Company’s conclusions regarding, among other considerations, estimates of future earnings based on information currently available, current and anticipated customers, contracts and product introductions, as well as historical operating results and certain tax planning strategies. The Company has evaluated the available evidence and the likelihood of realizing the benefit of its net deferred tax assets. From its evaluation the Company has concluded that based on the weight of available evidence, it is more likely than not that the Company will realize the full benefit of its net deferred tax assets recorded at September 30, 2015. The Company cannot presently estimate what, if any, changes to the valuation of its deferred tax assets may be deemed appropriate in the future. If the Company incurs future losses, it may be necessary to record additional valuation allowance related to the deferred tax assets recognized as of September 30, 2015.

5. Income Taxes

9 Months Ended

Sep. 30, 2015

Income tax expense totaling approximately $85 and $358 has been recorded for the three and nine months ended September 30, 2015, respectively.

As of September 30, 2015 and December 31, 2014, the Company’s net deferred tax assets totaled approximately $5,247 and $6,033, respectively, and are primarily composed of net operating loss carryforwards (“NOLs”), partially offset by deferred tax liabilities of $432 derived from the unrealized gain on available-for-sale securities. These NOLs total approximately $5,194 for federal and $13,813 for state purposes, with expirations starting in 2018 through 2030.

In order to fully utilize the net deferred tax assets, the Company will need to generate sufficient taxable income in future years to utilize its NOLs prior to their expiration. ASC Topic 740, “Income Taxes”, requires the Company to analyze all positive and negative evidence to determine if, based on the weight of available evidence, the Company is more likely than not to realize the benefit of the net deferred tax assets. The recognition of the net deferred tax assets and related tax benefits is based upon the Company’s conclusions regarding, among other considerations, estimates of future earnings based on information currently available, current and anticipated customers, contracts and product introductions, as well as historical operating results and certain tax planning strategies.

The Company has evaluated the available evidence and the likelihood of realizing the benefit of its net deferred tax assets. From its evaluation the Company has concluded that based on the weight of available evidence, it is more likely than not that the Company will realize the full benefit of its net deferred tax assets recorded at September 30, 2015. The Company cannot presently estimate what, if any, changes to the valuation of its deferred tax assets may be deemed appropriate in the future. If the Company incurs future losses, it may be necessary to record additional valuation allowance related to the deferred tax assets recognized as of September 30, 2015.