XML 54 R19.htm IDEA: XBRL DOCUMENT

Income Taxes	6 Months Ended
Jun. 30, 2014
Income Tax Disclosure [Abstract]
Income Taxes	14. Income Taxes In the six months ended June 30, 2014 we did not record tax expenses due to net loss and for the six months ended June 30, 2013, we recorded income tax expenses related to state franchise taxes only. We also have availability of deferred tax assets to offset any taxable income in the US (at the federal and state level to the extent applicable) and the UK. We have established a full valuation allowance against our deferred tax assets based on an assessment that the criteria that deferred tax assets will more likely than not be realized has not yet been met. During the six months ended June 30, 2014 and June 30, 2013, our effective tax rates were de minimis. The difference between our effective tax rates and the US and UK statutory rates resulted primarily from changes in the deferred tax asset valuation allowance. Our major tax jurisdictions are (i) US (federal), (ii) California (state), (iii) New York (state) and (iv) UK. Tax returns remain open to examination by the applicable governmental authorities for tax years 2010 through 2013. The federal and state taxing authorities may choose to audit tax returns for prior years due to significant tax attribute carryforwards for those prior years. However, such audits will be limited to adjustments to such carryforward tax attributes. The Company is not currently being audited in any tax jurisdiction.

Income Taxes

6 Months Ended

Jun. 30, 2014

14. Income Taxes

In the six months ended June 30, 2014 we did not record tax expenses due to net loss and for the six months ended June 30, 2013, we recorded income tax expenses related to state franchise taxes only. We also have availability of deferred tax assets to offset any taxable income in the US (at the federal and state level to the extent applicable) and the UK. We have established a full valuation allowance against our deferred tax assets based on an assessment that the criteria that deferred tax assets will more likely than not be realized has not yet been met. During the six months ended June 30, 2014 and June 30, 2013, our effective tax rates were de minimis. The difference between our effective tax rates and the US and UK statutory rates resulted primarily from changes in the deferred tax asset valuation allowance.

Our major tax jurisdictions are (i) US (federal), (ii) California (state), (iii) New York (state) and (iv) UK. Tax returns remain open to examination by the applicable governmental authorities for tax years 2010 through 2013. The federal and state taxing authorities may choose to audit tax returns for prior years due to significant tax attribute carryforwards for those prior years. However, such audits will be limited to adjustments to such carryforward tax attributes. The Company is not currently being audited in any tax jurisdiction.

- Definition

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