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Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2020
Income Tax Disclosure [Abstract]  
Composition of Loss from Continuing Operations Before Income Taxes

Composition of loss from continuing operations before income taxes is as follows (in thousands):

 

   

Year ended

December 31,

 
    2020     2019  
Domestic   $ 76     $ (697 )
Components of Income Tax Expense

Income tax expense consists of the following (in thousands):

 

   

Year ended

December 31,

  
    2020     2019  
Current:            
Federal   $ 16     $ —  
State and local     5       —   
      21       —   
Deferred:                
Federal     (16 )     —  
State and local     (5 )     —  
      (21 )     —  
Total income tax expense   $ —       $ —  
Summary of Reconciliation Between Federal Tax Rate

Set forth below is a reconciliation between the federal tax rate and the Company’s effective income tax rates with respect to continuing operations:

 

    Year ended December 31,  
    2020     2019  
Statutory Federal rates     21 %     21 %
Increase (decrease) in income tax rate resulting from:                
Other, net (primarily permanent differences)     12       (2 )
Valuation allowance     (33 )     (19 )
Effective income tax rates     — %     (— )%
Schedule of Deferred Tax Assets and Liabilities

Analysis of Deferred Tax Assets and (Liabilities) (in thousands):

 

    As of December 31,  
    2020     2019  
Deferred tax assets (liabilities) consist of the following:            
Employee benefits and deferred compensation   $ 1,076     $ 1,040  
Investments and asset impairments     1,818       1,818  
Other temporary differences     (1,002 )     (871 )
Net operating loss and capital loss carryforwards     15,739       15,591  
      17,631       17,578  
Valuation allowance     (17,631 )     (17,578 )
Net deferred tax assets   $ —     $ —  
Summary of Tax Loss Carryforwards

As of December 31, 2020, the Company had various operating loss carryforwards expiring as follows (in thousands):

 

Expiration   Federal     Capital Loss     State  
2023   $ —     $ 556     $ —  
2025 – 2031*     2,579       —       —  
2032 – 2039     63,180       —       14,898  
Unlimited     3,882       —       1,721  
Total   $ 69,641     $ 556     $ 16,619  

 

* The utilization of a portion of these net operating loss carryforwards is limited due to limits on utilizing net operating loss carryforwards under Internal Revenue Service regulations when or if a change of control were to occur