XML 39 R25.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Schedule of Income Tax Expense (Benefit) | The Company has not recorded an income tax expense or benefit for the years ended December 31, 2015, 2014 or 2013.
|  | 2015 |  |  | 2014 |  |  | 2013 |
Current federal income tax expense |  | $ | — |  |  | $ | — |  |  | $ | — |
Provision for doubtful federal income tax receivable |  |  | — |  |  |  | — |  |  |  | — |
Deferred federal income tax (benefit) expense |  |  | — |  |  |  | — |  |  |  | — |
Federal income tax benefit |  | $ | — |  |  | $ | — |  |  | $ | — |
Schedule of Effective Income Tax Rate Reconciliation | The items accounting for the difference between income taxes computed at the U.S. federal statutory rate and our effective rate were as follows:
| Year Ended |  |  | Year Ended |  |  | Year Ended |
| December 31, 2015 |  |  | December 31, 2014 |  |  | December 31, 2013 |
Income tax at the federal statutory rate of 35% |  | 35 | % |  |  | 35 | % |  |  | 35 | %
Effect of: |  |  |  |  |  |  |  |  |  |  |
Dividends on Preferred Securities | (8) |  |  | — |  |  | — |
Worthless stock deduction | — |  |  | — |  |  | 13 |
As filed adjustments | — |  |  | — |  |  | (14,505) |
Adjustments to NOL due to 382 limitation | — |  |  | (9) |  |  | — |
Change in valuation allowance | (27) |  |  | (26) |  |  | 14,457 |
Effective rate | —% |  |  | —% |  |  | —% |
Components of Net Deferred Tax Asset | The components of the net deferred tax asset as of December 31, 2015, 2014 and 2013, respectively, are as follows:
| Year Ended |  |  | Year Ended |  |  | Year Ended |
| December 31, 2015 |  |  | December 31, 2014 |  |  | December 31, 2013 |
Deferred federal income tax asset: |  |  |  |  |  |  |  |  |  |  |
Net operating loss carryforward | $ | 2,102,482 |  |  | $ | 2,098,597 |  |  | $ | 2,087,490 |
Accruals and reserves |  | 3,481 |  |  |  | 4,531 |  |  |  | 16,387 |
Derivative liabilities |  | 19,117 |  |  |  | — |  |  |  | — |
Losses and loss adjustments expense |  | — |  |  |  | — |  |  |  | 143 |
Restricted stock grants |  | 160 |  |  |  | — |  |  |  | — |
As filed adjustments |  | — |  |  |  | 214 |  |  |  | 130 |
Net unrealized loss on investments |  | 16 |  |  |  | — |  |  |  | — |
Capital loss carryforward |  | 52,490 |  |  |  | 52,603 |  |  |  | 52,756 |
Total deferred federal income tax asset |  | 2,177,746 |  |  |  | 2,155,945 |  |  |  | 2,156,906 |
Deferred federal income tax liabilities: |  |  |  |  |  |  |  |  |  |  |
Net unrealized gain on investments |  | — |  |  |  | 154 |  |  |  | 425 |
Losses and loss adjustments expense |  | 411 |  |  |  | 102 |  |  |  | — |
Total deferred federal income tax liabilities |  | 411 |  |  |  | 256 |  |  |  | 425 |
Less: Valuation allowance |  | 2,177,335 |  |  |  | 2,155,689 |  |  |  | 2,156,481 |
Net deferred federal income tax asset | $ | — |  |  | $ | — |  |  | $ | — |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration