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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Components of provision for income taxes

Components of the provision for income taxes from 2018 continuing operations and 2017 and 2016 all operations are as follows:

(In thousands)	December 31, 2018				December 31, 2017				December 31, 2016
Current:
Federal	$	(3,073	)		$	—			$	—
State	(754		)		22				38
Foreign	20				17				26
	(3,807		)		39				64
Deferred:
Federal	24				1,581				(2,505		)
State	63				(401		)		(277		)
Foreign	—				—				—
	87				1,180				(2,782		)
Valuation Allowance	(57		)		(1,375		)		2,782
Total Provision for Income Tax from continuing operations	$	(3,777	)		$	(156	)		$	64

Statutory federal income tax rate

Below is a reconciliation of the statutory federal income tax rate to our effective tax rate:

	Year Ended December 31,
	2018			2017			2016
Federal tax provision	21.0	%		34.0	%		34.0	%
State taxes (net of federal benefit)	5.6	%		4.8	%		3.7	%
Warrant gains	—	%		0.4	%		31.4	%
Valuation allowance	0.4	%		28.9	%		(71.8	)%
Change in federal tax rate	—	%		(71.2	)%		—	%
Other	1.9	%		6.2	%		1.5	%
Total	28.9	%		3.1	%		(1.2	)%

Deferred tax assets (liabilities)

Major components of the Company’s deferred tax assets (liabilities) at December 31, 2018, 2017, and 2016, are as follows:

(In thousands)	December 31, 2018				December 31, 2017				December 31, 2016
Deferred tax assets:
Loss and credit carry-forwards	$	—			$	7,722			$	9,169
Stock-based compensation	636				549				519
Inventory Reserve	115				494				534
Intangibles	146				—				—
Other	744				178				263
Total deferred tax assets	1,641				8,943				10,485
Valuation allowance	(1,491		)		(8,756		)		(10,185		)
Total deferred tax assets, net of valuation allowance	150				187				300
Deferred tax liabilities:
State taxes (capital)	—				(17		)		(19		)
Property and equipment	(150		)		(294		)		(459		)
Intangibles	—				(244		)		(386		)
Total deferred tax liabilities	(150		)		(555		)		(864		)
Net deferred tax liabilities	$	—			$	(368	)		$	(564	)

Unrecognized tax benefits roll-forward

The following is a roll-forward of the Company's total gross unrecognized tax benefits, not including interest and penalties, for the year ended December 31, 2018.

(in thousands)		Gross Unrealized Tax Benefits
Balance at January 1, 2018		$	—
Additions of tax positions related to the current year		—
Additions of tax positions related to the prior year		1,313
Decreases for tax positions related to prior year		—
Balance at December 31, 2018		$	1,313

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- 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319

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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
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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.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
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Tabular disclosure of the change in unrecognized tax benefits.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=96868398&loc=d3e36027-109320

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