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8. Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2020
Income Tax Disclosure [Abstract] |
Provision for income taxes | Acacia’s income tax benefit (expense) for the fiscal periods presented consisted of the following:
|  | 2020 |  |  | 2019 |
|  | (in thousands) |
Current: |  |  |  |  |  |
Federal |  | $ | – |  |  | $ | – |
State |  |  | (66 | ) |  |  | (34 | )
Foreign |  |  | 1,225 |  |  |  | 1,858 |
Total current |  |  | 1,159 |  |  |  | 1,824 |
Deferred: |  |  |  |  |  |  |  |
Federal |  |  | – |  |  |  | – |
State |  |  | – |  |  |  | – |
Total deferred |  |  | – |  |  |  | – |
Income tax benefit (expenses) |  | $ | 1,159 |  |  | $ | 1,824 |
Schedule of deferred taxes |
|  | 2020 |  |  | 2019 |
|  | (in thousands) |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss and capital loss carryforwards and credits |  | $ | 113,561 |  |  | $ | 112,280 |
Unrealized loss on investments held at fair value |  |  | 0 |  |  |  | 538 |
Stock compensation |  |  | 497 |  |  |  | 358 |
Fixed assets and intangibles |  |  | 677 |  |  |  | 1,316 |
Basis of investments in affiliates |  |  | 254 |  |  |  | 300 |
Accrued liabilities and other |  |  | 762 |  |  |  | 631 |
State taxes |  |  | 15 |  |  |  | 25 |
Total deferred tax assets |  |  | 115,766 |  |  |  | 115,448 |
Valuation allowance |  |  | (76,969 | ) |  |  | (115,077 | )
Total deferred tax assets, net of valuation allowance |  |  | 38,797 |  |  |  | 371 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
ROU Asset |  |  | (330 | ) |  |  | (347 | )
Unrealized loss on investments held at fair value |  |  | (38,374 | ) |  |  | – |
Other |  |  | (93 | ) |  |  | (24 | )
Total deferred tax liabilities |  |  | (38,797 | ) |  |  | (371 | )
Net deferred tax assets (liabilities) |  | $ | – |  |  | $ | – |
Reconciliation of income tax rate | A reconciliation of the federal statutory income tax rate and the effective income tax rate is as follows:
|  | 2020 |  |  | 2019 |
Statutory federal tax rate - (benefit) expense |  |  | 21% |  |  |  | 21% |
State income and foreign taxes, net of federal tax effect |  |  | (1)% |  |  |  | 7% |
Foreign tax credit |  |  | –% |  |  |  | –% |
Noncontrolling interests in operating subsidiaries |  |  | –% |  |  |  | –% |
Nondeductible permanent items |  |  | 11% |  |  |  | 1% |
Change in tax rate |  |  | –% |  |  |  | –% |
Expired capitalized loss |  |  | –% |  |  |  | (2)% |
Valuation allowance |  |  | (33)% |  |  |  | (13)% |
Other |  |  | 1% |  |  |  | (4)% |
|  |  | (1)% |  |  |  | 10% |

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