Annual report pursuant to Section 13 and 15(d)

Income taxes (Tables)

v3.22.0.1
Income taxes (Tables)
12 Months Ended
Dec. 31, 2021
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, 2021, 2020 and 2019 are as follows (in thousands):

For the years ended December 31,

2021

2020

2019

Domestic

$

(7,672

)

$

(12,667

)

$

(20,446

)

Foreign

 

Loss from Continuing Operations before Income Taxes

$

(7,672

)

$

(12,667

)

$

(20,446

)

Schedule of Components of Income Tax Benefit

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

As of December 31,

2021

 

2020

2019

Current:

US Federal

$

 

$

$

US State

(254

)

Foreign

Total current benefit (expense)

$

(254

)

$

$

Deferred:

US Federal

$

$

$

117

US State

26

Foreign

Total deferred benefit

143

Total benefit (expense) for income taxes

$

(254

)

$

$

143

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, 2021 and 2020 are comprised of the following (in thousands):

As of December 31,

2021

 

2020

Deferred income tax assets:

Net operating loss carryforwards

$

64,394

$

51,938

Research and development credit carryforwards

1,063

1,063

Long-term investments

3,402

-

Operating lease liabilities

1,454

-

Stock option expense

15,827

1,253

Impairment of mining related assets and other

10,504

803

Total deferred tax assets

96,644

55,057

Valuation allowance

(59,039

)

(55,057

)

Net deferred tax assets

37,605

-

Deferred income tax liabilities:

Derivative asset

(5,477

)

-

Property and equipment and other

(32,128

)

-

Net deferred tax assets (liabilities)

$

-

$

-

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,

2021

2020

2019

Statutory federal income tax expense (benefit)

$

(1,611

)

$

(2,660

)

$

(4,293

)

State taxes, net of federal tax expense (benefit)

347

(471

)

(664

)

Nondeductible/nontaxable items

1,732

(45

)

1,142

Tax return to provision true-up

313

(8,737

)

-

State tax rate change

(1,897

)

2,231

-

Other

-

-

195

Change in valuation allowance

1,370

9,682

3,477

Income taxes expense (benefit)

$

254

$

-

$

(143

)