Income Taxes

3 Months Ended

Mar. 31, 2012

Income Taxes [Abstract]

Income Taxes

NOTE 7 – INCOME TAXES

We are subject to the income tax jurisdictions of the U.S., Puerto Rico, as well as multiple state tax jurisdictions. Our provisions for income taxes for the three months ended March 31, 2012 and 2011 represented solely income tax expenses for certain states. We incurred approximately $27,000 of federal income tax expense, which was fully offset by a decrease in the valuation allowance provided against deferred tax assets. We continue to maintain an effective 100% valuation allowance against the balance of the net deferred tax assets.

Management has evaluated our tax positions taken or to be taken on income tax returns that remain subject to examination (i.e., tax years 2008 and thereafter federally, earlier for certain states,), and has concluded that there are no uncertain tax positions, as defined in generally accepted accounting principles, that require recognition or disclosure in the consolidated financial statements.