Income Taxes |
6 Months Ended |
|---|---|
Jun. 30, 2018 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes |
NOTE 9 — INCOME TAXES
Due to our cumulative loss position and historical net operating losses (“NOLs”), we have recorded a full valuation allowance against our U.S. deferred tax assets as of June 30, 2018 and December 31, 2017. Accordingly, we have not recorded a provision for federal, state or foreign income taxes during the three and six months ended June 30, 2018. The benefit recorded in the accompanying Condensed Consolidated Financial Statements for the three months ended June 30, 2018 is for foreign income taxes.
In 2017, we experienced ownership changes as defined by Internal Revenue Code (“IRC”) Section 382, and an analysis of the annual limitation on the utilization of our NOLs was performed at that time. It was determined that IRC Section 382 will not limit the use of our NOLs over the carryover period. We will continue to monitor trading activity in our shares that may cause an additional ownership change, which may ultimately affect our ability to fully utilize our existing NOL carryforwards.
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