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Income taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Benefit for Income Taxes

The benefit for income taxes on loss from continuing operations consisted of the following:

		Year Ended December 31,
(In thousands)		2016				2015				2014
Current
Federal		$	-			$	(123	)		$	-
State			87				-				-
			87				(123	)			-
Deferred
Federal			(14,278	)			(15,771	)			(167	)
State			(1,732	)			(689	)			-
Valuation allowance			1,881				-				-
			(14,129	)			(16,460	)			(167	)
Income tax benefit		$	(14,042	)		$	(16,583	)		$	(167	)

Reconciliation of Effective Income Tax benefit

The Company’s effective income tax benefit differed from the statutory federal income tax rate of 34.0% for the years ended December 31, 2016, 2015 and 2014. For the year ended December 31, 2016, this difference is mainly the result of the valuation allowance applied against the Company’s deferred tax assets and state income taxes. For the year ended December 31, 2015, this difference is primarily due to state income taxes and one-time contingent earn out costs related to shares issued pursuant to the TBO Merger Agreement. For the year ended December 31, 2014, this difference is primarily due to the permanent differences. A reconciliation was shown as follows:

		Year Ended December 31,
(In thousands)		2016								2015								2014
Tax on continuing operating loss before   income taxes		$	(14,663	)			34.0	%		$	(20,117	)			34.0	%		$	(264	)			34.0	%
Effect of state taxes (net of federal tax   benefit)			(1,645	)			3.8	%			(1,800	)			3.0	%			(7	)			0.9	%
Non-deductible contingent earn out costs			-				0.0	%			4,862				-8.2	%			-				0.0	%
Non-deductible acquisition costs			433				-1.0	%			366				-0.6	%			101				-13.0	%
Other permanent differences			124				-0.3	%			185				-0.3	%			3				-0.4	%
Others			(172	)			0.4	%			(79	)			0.1	%			-				0.0	%
Valuation allowance			1,881				-4.4	%			-				0.0	%			-				0.0	%
Income tax benefit		$	(14,042	)			32.5	%		$	(16,583	)			28.0	%		$	(167	)			21.5	%

Schedule of Components of Deferred Tax Assets and Liabilities

Components of deferred tax assets and liabilities consist of the following:

(In thousands)		December 31, 2016				December 31, 2015
Deferred tax assets:
Net operating loss carryforwards		$	8,041			$	4,619
Share-based compensation			21,503				12,069
Liability for employee incentive-based compensation plan			-				1,528
Accounts receivable			392				530
Accrued expenses and other current liabilities			43				136
Others			11				-
			29,990				18,882
Valuation allowance			(1,881	)			-
			28,109				18,882
Deferred tax liabilities:
Intangible assets		$	27,962			$	31,743
Property and equipment			117				239
Prepaid expenses and other current assets			-				412
Internal Revenue Code Sec. 481 adjustment			30				61
			28,109				32,455
Net deferred tax liability		$	-			$	(13,573	)

Schedule of Reconciliation of Gross Amounts of Unrecognized Tax Benefits, Excluding Accrued Interest and Penalties

A reconciliation of the gross amounts of unrecognized tax benefits, excluding accrued interest and penalties, for the year ended December 31, 2016 (no such items for the years ended December 31, 2015 and 2014), is as follows:

		Year Ended
(In thousands)		December 31, 2016
Unrecognized tax benefits, opening		$	-
Gross increase - tax position in prior period			1,668
Unrecognized tax benefits, ending balance		$	1,668

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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
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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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-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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-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=75116239&loc=d3e36027-109320

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