17. Income Taxes |
9 Months Ended |
|---|---|
Sep. 30, 2014 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
As a result of the reverse acquisition and VIE acquisition, it is expected that ASTV’s net operating loss carry forwards of approximately $31,222,000 will be limited under IRC Section 382, and none of the VIE’s historical net operating loss carry forwards of approximately $10,476,000 will be available to offset any future taxable income of the Company’s consolidated tax group. Infusion has approximately $25,217,000 of historical net operating loss carry forwards that are not expected to be limited under IRC Section 382. A full valuation allowance has been established for consolidated net deferred tax assets as it is more likely than not deferred tax assets will not be realized. The Company does not expect to generate taxable income during the year ended December 31, 2014.
We have no unrecognized income tax benefits as of September 30, 2014 and December 31, 2013. There have been no material changes in unrecognized tax benefits through September 30, 2014. The calendar years 2013, 2012 and 2011 are considered open tax years in U.S. federal and state tax jurisdictions. ASTV received a Form 4564 Information Document Request with respect to the tax year ended March 31, 2013. On March 2, 2015, the IRS completed its review and issued an unfavorable adjustment in the amount of approximately $182,000 related to certain fees that should have been capitalized. |