Income taxes (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

The components of income tax expense  are as follows (in thousands):

	Year Ended December 31,
		2016		2015
Current
Federal		$	-	$	-
State and local			54		27
Total current			54		27

Differences Between Statutory and Reported Amount Tax Rates

The difference between the benefit for income taxes computed at the statutory rate and the reported amount of tax expense (benefit) from operations is as follows:

	Year ended December 31,
	2016			2015
Federal income tax rate		(34.0	)%		(34.0	)%
State income tax (net of federal effect)		1.7			(4.7	)
Change in valuation allowance		34.3			41.9
Non-deductible expenses		0.6			2.7
Non-taxable income		-			(4.8	)
Effective tax rate		2.6	%		1.1	%

Schedule of Deferred Tax Assets and Liabilities

The deferred tax assets and liabilities are summarized as follows (in thousands):

	December 31,
	2016			2015
Deferred tax assets:
Net operating loss carryforwards	$	8,809		$	8,325
Equity-based compensation		1,275			1,237
Tax credit carryforwards		148			148
Accrued compensation		305			369
Accrued liabilities & other		105			113
Gross deferred tax assets		10,642			10,192
Less: valuation allowance		(9,850	)		(9,138	)
Deferred tax assets after valuation allowance		792			1,054
Deferred tax liabilities:
Intangible assets		(784	)		(1,043	)
Other		(8	)		(11	)
Deferred tax liabilities		(792	)		(1,054	)
Net Deferred tax assets	$	-		$	-