Annual report pursuant to Section 13 and 15(d)

Income taxes (Tables)

v3.20.1
Income taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Loss From Continuing Operations by Domestic and Foreign Jurisdictions

The components of the loss from continuing operations before income taxes for the years ended December 31, 2019 and 2018 are as follows (in thousands):

 

    For the years ended December 31,
    2019   2018
Domestic   $ (20,446 )   $ (56,453 )
Foreign     —         (4,555 )
Loss from Continuing Operations before Income Taxes   $ (20,446 )   $ (61,008 )
Schedule of Components of Income Tax Benefit

The components of income tax benefit are as follows (in thousands):

 

    As of December 31,
    2019   2018
Current:        
US Federal   $ —       $ —    
US State     —         —    
Foreign     —         —    
Total current benefit   $ —       $ —    
Deferred:                
US Federal   $ 117     $ 495  
US State     26       112  
Foreign     —         92  
Total deferred benefit     143       699  
Total benefit for income taxes   $ 143     $ 699  

 
Schedule of Deferred Tax Assets and (Liabilities)

The tax effects of temporary differences and tax loss and credit carry forwards that give rise to significant portions of deferred tax assets and liabilities at December 31, 2019 and 2018 are comprised of the following (in thousands):

 

    As of December 31,
    2019   2018
Deferred income tax assets:                
Net operating loss carryforwards   $ 43,436     $ 30,745  
Research and development credit carryforwards     989       989  
Stock option expense     1,095       1,384  
Impairment of mining related assets and other     (146 )     8,779  
Total deferred tax assets     45,374       41,897  
Valuation allowance     (45,374 )     (41,897 )
Net deferred tax assets     —         —    
Deferred income tax liabilities:                
Indefinite life intangible assets     —         (143 )
Net deferred tax liabilities   $ —       $ (143 )
Schedule of Federal Statutory Rate Reconcilition Tax Expense (Benefit)

The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows (in thousands):

 

    For the years ended December 31,
    2019   2018
Statutory federal income tax expense (benefit)   $ (4,293 )   $ (12,791 )
State taxes, net of federal tax expense (benefit)     (664 )     (2,887 )
Stock compensation     1,142       174  
Other     195       –   
Change in valuation allowance     3,477       14,805
Income taxes benefit   $ (143 )   $ (699 )