Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.7.0.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2016
Income Taxes [Abstract]  
Provisions for income taxes



 

 

 

 

 

 



 

 

 

 

 

 



 

2016

 

2015

Federal – current

 

$

 -

 

$

 -

State – current

 

 

 -

 

 

 -

Foreign – current

 

 

 -

 

 

 -

Total

 

$

 -

 

$

 -



Net deferred tax assets and liabilities



 

 

 

 

 

 



 

 

 

 

 

 

 

 

2016

 

2015

Deferred tax assets (liabilities):

 

 

 

 

 

 

Net operating loss carryforwards

 

$

11,774,000 

 

$

9,896,000 

Stock based compensation

 

 

4,254,000 

 

 

3,534,000 

Accrued compensation

 

 

68,000 

 

 

54,000 

Depreciation and amortization

 

 

7,148,000 

 

 

6,063,000 

Other

 

 

48,000 

 

 

58,000 

Total deferred tax assets

 

 

23,292,000 

 

 

19,605,000 

Valuation allowance for net deferred tax assets

 

 

(23,292,000)

 

 

(19,605,000)

Total

 

$

 -

 

$

 -



Reconciliation of federal statutory income tax rate to our effective income tax rate



 

 

 

 

 

 



 

 

 

 

 

 

 

 

2016

 

2015

Computed expected tax expense

 

$

(3,235,000)

 

$

(2,085,000)

State taxes, net of federal benefit

 

 

(612,000)

 

 

(343,000)

Expiration of NOL carryforwards

 

 

143,000 

 

 

 -

Other

 

 

17,000 

 

 

77,000 

Change in valuation allowance

 

 

3,687,000 

 

 

2,351,000 

Total

 

$

 -

 

$

 -