Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Computation of U.S. Federal Income Tax Rate to Pretax Loss From Continuing Operations

The difference between the actual income tax benefit and that computed by applying the U.S. federal income tax rate of 34% to pretax loss from continuing operations is summarized below:

	For the years ended December 31,
	2014		2013
Computed expected tax benefit	$	(4,270)	$	(8,822)
State tax benefit, net of federal effect		(217)		(1,557)
Increase in the valuation allowance		4,487		10,379
Provision for income taxes	$	-	$	-

Summary of Deferred Tax Assets and Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and liabilities as of December 31, 2014 and 2013 are as follows:

	December 31,
	2014		2013
Deferred tax assets:
Net operating loss carryforward	$	57,367	$	35,086
Capitalized research and developmental costs		12,925		27,794
Inventory		689		-
Reserves & accrued expenses		135		-
Warrant Liability		(3,123)		-
Property & equipment		(785)		-
Non-cash compensation		3,840		3,681
Total deferred tax assets		71,048		66,561
Less valuation allowance		(71,048)		(66,561)
Net deferred tax assets	$	-	$	-