Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Loss Before Income Tax Provision

The provision for income taxes is based on loss from operations before provision for income taxes and noncontrolling interests as follows ($ in thousands):



	Years Ended December 31,
Pre-tax book income	2019			2018
United States	$	(19,352	)	$	(16,168	)
	$	(19,352	)	$	(16,168	)

Schedule of Reconciliation of Effective Income Taxes

The provision for income taxes is determined by applying the U.S. Federal statutory rate of 21% to income before income taxes as a result of the following ($ in thousands):



	Years Ended December 31,
	2019			2018
U.S. Federal benefit at statutory rate	$	(4,064	)	$	(3,395	)
State and local (benefit) / expense net of U.S. federal tax	—			—
Permanent non deductible expenses for U.S. taxes	14			11
AMT credit benefit	—			—
Change in state deferred	(4,720		)	2,799
Return to actual	(17		)	(177		)
Other true ups	1,941			(1,949		)
Effect of change in deferred tax rate	—			—
Valuation allowance for deferred tax assets	6,846			2,711
Tax provision	$	—		$	—

Schedule of Components Deferred Income Taxes

Deferred income taxes at December 31, 2019 and 2018 consist of the following ($ in thousands):



	December 31,
	2019			2018
Deferred Tax Assets:
Accumulated net operating losses (tax effected)	$	70,747		$	60,544
CIRM funding	336			1,033
Right of use liability	205			5
Share-based compensation	3,584			6,390
Intangibles	141			199
Charitable contributions	—			9
Accumulated depreciation	9			9
Accrued payroll	121			117
Other	737			525
Deferred tax assets	75,880			68,831

Deferred Tax Liabilities:
Right of use asset	$	(190	)	$	—
Deferred tax liabilities	(190		)	—
	75,690			68,831
Valuation allowance	(75,690		)	(68,831		)
Net deferred tax asset	$	—		$	—