Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Effects of Temporary Differences that Give Rise to Significant Portions of the Deferred Tax Assets

The effects of temporary differences that give rise to significant portions of the deferred tax assets as of December 31, 2015 and 2014 are as follows:


	Year Ended December 31, 2015			Year Ended December 31, 2014

Deferred tax assets:
Net operating loss carryforwards	$	8,359,000		$	10,433,000
Stock-based compensation		1,897,000			1,871,000
License agreements		268,000			—
Research and development		117,000			—
Technology licensing fee		185,000			167,000

Total deferred tax assets		10,826,000			12,471,000
Valuation allowance		(10,826,000	)		(12,471,000	)

Deferred tax assets, net of valuation allowance	$	—		$	—

Summary of Expected Tax Expense (Benefit) Based on the U.S. Federal Statutory Rate is Reconciled with the Actual Tax Provision (Benefit)

For the years ended December 31, 2015 and 2014, the expected tax expense (benefit) based on the U. S. federal statutory rate is reconciled with the actual tax provision (benefit) as follows:


	Year Ended December 31, 2015			Year Ended December 31, 2014
U. S. federal statutory rate	$	(11,582,000	)	$	(10,449,000	)
State taxes, net of federal benefit	$	(199,000	)		—

Permanent differences
- Non-cash loss on extinguishment of debt		—			9,122,000
- Change in fair value of derivative liabilities		9,477,000			—
- Write off of net operating loss		3,591,000			—
-Other permanent differences		12,000			62,000
Change in valuation allowance		(1,645,000	)		1,265,000
Other		346,000			—

Income tax provision (benefit)	$	—		$	—