Funds Received From Sale Of Income Tax Net Operating Losses
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3 Months Ended |
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Mar. 31, 2013
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Income Tax Disclosure [Abstract] | |
Funds Received From Sale Of Income Tax Net Operating Losses | Funds Received From Sale Of Income Tax Net Operating Losses As of December 31, 2012, the Company has approximately $119,000,000 of federal net operating loss carryforwards (expiring in the years 2013 through 2032) available to offset future federal taxable income. The Company also had approximately $36,000,000 of Pennsylvania state net operating loss carryforwards (expiring in the years 2018 through 2032) and approximately $17,000,000 of New Jersey state net operating loss carryforwards (expiring in the years 2030 through 2032) available to offset future state taxable income. In January 2013, the Company effectively sold $8,500,000 of its approximately $17,000,000 of New Jersey State Net Operating Loss carryforwards (for the years 2010 and 2011) for approximately $685,000. The utilization of certain state net operating loss carry-forwards may be subject to annual limitations. With no tax due for the foreseeable future, the Company has determined that the accounting for interest or penalties related to the payment of tax is not necessary at this time. |