Income Tax (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Tables

Schedule of Components of Income Tax Expense

The components of income tax expense (benefit) attributable to continuing operations are as follows:

	Years ended December 31,
	2016		2015
Current expense:
Federal	$	—	$	—
State		—		—
Deferred expense (benefit):
Federal	$	—	$	—
State		—		—
Total	$	—	$	—

Schedule of Income Tax Rate Reconciliation

	Years ended December 31,
	2016			2015
Federal income tax expense at statutory rate	$	(4,411,000	)	$	(7,182,000	)
Increase (reduction) in income tax resulting from:
State and local income taxes, net of federal benefit		69,000			(420,000	)
Foreign rate differential		(18,000	)		64,000
Non-deductible expenses		8,000			—
Prior-period true-up		547,000			(489,000	)
Research & development credit		(575,000	)		(171,000	)
Stock-based compensation		113,000			194,000
Other		(1,000	)		—
Increase in valuation allowance		4,268,000			8,004,000
	$	—		$	—

Schedule of Deferred Tax Assets and Liabilities

	December 31,
	2016		2015
Deferred tax assets:
Net operating loss carryforward	$	19,303,020	$	15,758,242
Research & development credit		1,557,475		982,429
Stock-based compensation		838,297		791,109
Other		203,661		100,126
Deferred tax assets		21,902,453		17,631,906
Deferred tax liabilities:
Property, plant and equipment, primarily due to differences in depreciation		(41,953)		(39,758	)
Deferred tax liabilities:		(41,953)		(39,758	)
Valuation allowance		(21,860,500)		(17,592,148	)
Net deferred income taxes	$	—	$	—