Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.19.3.a.u2
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of domestic and foreign components of income (loss) before income taxes from continuing operations
    For the Years Ended
December 31,
 
    2019     2018  
Domestic   $ (32,116 )   $ (18,336 )
Foreign     (2,450 )     (1,447 )
                 
Loss from Continuing Operations before Provision for Income Taxes   $ (34,566 )   $ (19,783 )
Schedule of components of income tax provision (benefit)

    For the Years Ended
December 31,
 
    2019     2018  
Foreign            
Current   $ --     $ 17  
Deferred     (844 )     (142 )
U.S. federal     --       --  
Current     --       --  
Deferred     (5,177 )     734  
State and local     --       --  
Current     --       7  
Deferred     (898 )     391  
      (6,919 )     1,007  
Change in valuation allowance     6,335       (1,007 )
                 
Income Tax Provision   $ (584 )   $ --  
Schedule of reconciliation between the U.S. statutory federal income tax rate and the company's effective rate

    For the Years Ended
December 31,
 
    2019     2018  
U.S. federal statutory rate     21.0 %     21.0 %
State income taxes, net of federal benefit     2.0       (0.2 )
Impairment of goodwill     --       (0.7 )
Impairment of net operating loss     --       (4.5 )
Incentive stock options     (0.7 )     (0.5 )
Additional Beneficial Conversion Feature     --       (0.5 )
Federal and state rate change and other     --       0.8  
US-Foreign income tax rate difference     0.4       0.4  
Other permanent items     0.1       (0.5 )
Provision to return adjustments     --       --  
Deferred rate change     --       --  
Deferred only adjustment     (2.7 )     --  
Change in valuation allowance     (18.3 )     (15.3 )
Effective Rate     1.8 %     0.0 %
Schedule of deferred tax assets

   

As of December 31,

 
(in 000s)   2019     2018  
Deferred Tax Asset            
Net operating loss carryovers   $ 8,918     $ 4,892  
Deferred revenue     --       --  
Stock based compensation     1,114       646  
Debt debenture     --       --  
Research credits     135       133  
Accrued compensation     36       55  
Reserves     242       191  
Intangibles     2,361       1,741  
Fixed assets     39      

--

 
Other     3.046       470  
                 
Total Deferred Tax Asset     15,891       8,128  
Less: valuation allowance     (13,902 )     (7,677 )
                 
Deferred Tax Asset, Net of Valuation Allowance   $ 1,989     $ 451  

 

   

As of December 31,

 
Deferred Tax Liabilities   2019     2018  
Intangible assets   $ (1,671 )   $ --  
Fixed assets     --       --  
Other     (53 )     (36 )
Prepaid maintenance     --       --  
Capitalized research     (352 )     (415 )
Total deferred tax liabilities     (2,076 )     (451 )
                 
Net Deferred Tax Asset (Liability)   $ (87 )   $ --