Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

v3.19.1
Income Taxes (Tables)
12 Months Ended
Dec. 31, 2018
Income Tax Disclosure [Abstract]  
Summary of Reconciliation of Statutory IncomeTax Rate

The following table reconciles the United States statutory income tax rate with our effective income tax rate:

 

     Year ended December 31,  
          2018             2017             2016      

United States statutory rate

     21.0     34.0     34.0

State and local income taxes, net of federal tax benefits

     0.7     -     -

Stock-based compensation

     3.6     0.6     (1.2 %) 

Deferred rate change

     0.3     (12.9 %)      0.0

R&D credit

     0.7     -     3.5

Other

     0.7     -     -

Change in valuation allowance

     (27.0 %)      (21.7 %)      (35.2 %) 

Effective income tax rate

     -     -     -

Schedule of Deferred Tax Assets And Liabilities

Deferred assets and liabilities consist of the following:

 

     December 31,  
In Thousands        2018             2017      

Net operating losses

   $ 16,372     $ 9,252  

Stock-based compensation

     2,747       2,691  

Financing lease obligations

     4,009       2,131  

Tax credit carry forwards

     922       735  

Compensation and employee benefits

     474       576  

Other

     116       8  

Gross deferred tax assets

     24,640       15,393  

Less valuation allowance

     (20,329     (12,792

Net deferred tax assets

     4,311       2,601  

Fixed assets

     (4,352     (2,600

Other

     41       (1

Gross deferred tax liabilities

     (4,311     (2,601

Net deferred tax asset or liability

   $ -     $ -