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Income Taxes
18 Months Ended
Jun. 30, 2011
Income Taxes [Abstract]  
Income Taxes
7. Income Taxes
The effective tax rate for the six months ended June 30, 2011 and 2010 was 0%.
At June 30, 2011 and December 31, 2010, the Company had a federal net operating loss carryforward balance of $24.8 million and $18.1 million, respectively. If unused, the net operating loss carryforwards begin expiring in 2028. The Company has a full valuation allowance of $29.1 million for its net deferred tax assets because the Company has incurred losses since inception. In addition, certain changes in the ownership of the Company could result in limitations on the Company’s ability to utilize the federal net operating loss carryforwards.
The Company’s only taxing jurisdiction is the United States (federal and state). The Company’s tax years 2007 to present remain open for federal examination.