Income Taxes

9 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 13: INCOME TAXES

The Company has a net operating loss carryforward for tax purposes totaling approximately $107,780 at December 31, 2019. Internal Revenue Code Section 382 places a limitation on the amount of taxable income that can be offset by carryforwards after certain ownership shifts.

The provision (benefit) for income taxes for the nine months ended December 31, 2019 and 2018 differs from the amount expected as a result of applying statutory tax rates to the losses before income taxes principally due to establishing a valuation allowance to fully offset the potential income tax benefit. Realization of deferred tax assets is dependent upon sufficient future taxable income during the period that deductible temporary differences and carry-forwards are expected to be available to reduce taxable income. As the achievement of required taxable income is uncertain, the Company has recorded a full valuation allowance against deferred tax assets.

The Company's deferred tax assets are summarized as follows:

	December 31, 2019			March 31, 2019
	(Unaudited)
Net operating loss carryover	$	22,634		$	23,327
Depreciable and amortizable assets		1,717			1,761
Share-based compensation		4,071			3,586
Accrued liabilities		57			57
Allowance for bad debts		106			120
Warrant derivative liabilities		(789	)		(2,884	)
Other		382			381
Total		28,178			26,348
Less: valuation allowance		(28,178	)		(26,348	)
Net deferred tax asset	$	-		$	-

After consideration of all the evidence, both positive and negative, management has recorded a full valuation allowance at December 31, 2019 and March 31, 2019, due to the uncertainty of realizing the deferred income tax assets. The valuation allowance increased by $1,830 in the nine months ended December 31, 2019. The Company has not identified any uncertain tax positions and has not received any significant notices from tax authorities.