Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.20.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2019
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)

The benefit from income taxes on continuing operations for the years ended December 31, 2019 and 2018 is comprised of the following:

 

    2019     2018  
Current:                
Federal   $ (46 )   $ (2 )
State     -       20  
Total current     (46 )     18  
                 
Deferred:                
Federal     11       -  
State     7       -  
Total deferred     18       -  
Benefit from income taxes   $ (28 )   $ 18  

Schedule of Deferred Tax Assets and Liabilities

The tax effects of significant items comprising the Company’s deferred tax assets and (liabilities) as of December 31, 2019 and 2018 are as follows:

 

    As Restated     As Restated  
    2019     2018  
Deferred tax assets:                
Federal net operating loss carryforwards   $ 44,152     $ 40,158  
State net operating loss carryforwards     5,687       4,541  
Compensation     1,399       1,100  
Allowances and reserves     457       1,007  
State taxes     848       794  
Credit carryforward     229       234  
163(j) interest     141       -  
Leases     23       -  
Deferred revenue     88       89  
Property, plant and equipment     -       16  
      53,024       47,939  
Deferred tax liability:                
                 
Intangible assets     1,112       (44 )
Property, plant and equipment     (263 )     -  
Valuation allowance     (53,891 )     (47,895 )
Deferred tax liability-net valuation allowance   $ (18 )   $ -  
Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the difference between the federal statutory tax rates and the Company’s effective tax rate from continuing operations is as follows:

 

    2019     2018  
Federal statutory rate     21.0 %     21.0 %
State income tax rate, net of Federal tax benefit     3.0 %     2.9 %
Meals and entertainment     (0.2 )%     (0.3 )%
Contingent consideration     0.0 %     0.0 %
Tax reform change     0.0 %     0.0 %
Valuation allowance     (23.8 )%     (23.7 )%
Other non-deductible     0.0 %     (0.1 )%
Naked credit     (0.1 )%     0.0 %
Discontinued operations allocation     0.2 %     0.0 %
Effective tax rate     0.1 %     (0.2 )%

Schedule of Unrecognized Tax Benefits Roll Forward

The following table summarizes the change in uncertain tax benefit reserves for the two years ended December 31, 2019:

 

    Unrecognized  
    Tax Benefits  
       
Balance of unrecognized benefits as of January 1, 2018   $ 1,117  
Reductions for tax positions of prior years     (323 )
Balance as of December 31, 2018   $ 794  
Additions for tax positions of prior years     54  
Balance as of December 31, 2019   $ 848  

Schedule of Tax Years Subject to Examination

The following tax years remain subject to examination as of December 31, 2019:

 

Jurisdiction   Tax Years
Federal   2015 - 2019
State and Local   2014 - 2019