XML 24 R13.htm IDEA: XBRL DOCUMENT

Income Taxes

9 Months Ended

Sep. 30, 2021

Income Taxes

Note 7. Income Taxes

(7)

Income Taxes

At December 31, 2020, the Company had an operating loss carryforward of approximately $70,080,000 available to reduce future taxable income. These operating losses expire at various dates through 2038.

The following summarizes the temporary differences of the Company at September 30, 2021 and December 31, 2020 at the statutory rate:

		September 30,				December 31,
		2021				2020
		($ in thousands)
Deferred tax asset
Net operating loss carryforward		$	18,077			$	17,801
Expenses capitalized under IRC 263(a)			37				37
Tax credits (AMT)			57				57
Valuation allowance			(18,171	)			(17,895	)
Total deferred tax asset			-				-

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details