Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The Company’s tax expense differs from the “expected” tax expense for the years ended December 31, 2018 and 2017 (computed by applying the Federal corporate tax rate of 21% to loss before taxes and 4.74% for blended state income tax rate, the blended rate used was 25.74%),

as follows (in thousands):

	2018			2017
Computed “expected” tax-benefit – Federal	$	(2,818	)	$	(5,267	)
Computed “expected” tax-benefit – State		(636	)		(613	)
Adjustment of “expected” tax-benefit to actual		19			(2	)
Meals, entertainment and other		3			10
Non-deductible stock-based compensation		266			502
Fair Market Value Adjustment – Warrants		(1,051	)		(4,076	)
Impact of U.S. tax reform		-			21,555
Change in valuation allowance		4,217			(12,109	)
	$	—		$	—

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The effects of temporary differences that gave rise to significant portions of deferred tax assets at December 31, 2018 and 2017 are as follows (

in thousands

	2018			2017
Deferred tax assets:
Stock issued for services	$	1,998		$	1,730
Accrued compensation		38			164
Stock issued for acquisition of program		1,224			1,202
Stock issued for license agreement		1,760			1,947
Stock issued for milestone payment		278			301
Amortizable license fee		5			6
Net operating loss carry-forward		44,512			40,248
Total gross deferred tax assets		49,815			45,598
Less: valuation allowance		(49,815	)		(45,598	)
Total net deferred tax assets	$	—		$	—