Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following:

	December 31,
	2018			2017
Current tax provision (benefit)
Federal	$	—		$	—
State		6,000			—
		6,000			—
Deferred tax provision (benefit)
Federal		(3,567,000	)		21,269,000
State		(1,720,000	)		(1,994,000	)
Foreign		(127,000	)		(885,000	)
Change in valuation allowance		5,414,000			(18,390,000	)
Income tax provision (benefit)	$	6,000		$	—

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the statutory tax rate to the effective tax rate is as follows:

	December 31,
	2018			2017
Statutory Federal income tax rate		21.00	%		34.00	%
State and local taxes, net of Federal benefit		10.93			13.96
Permanent differences		4.35			(2.74	)
Provision to return		1.40			1.21
IMT opening balance		(—	)		(—	)
Bargain purchase gain		(—	)		36.65
Vislink opening balance		(—	)		(36.65	)
Invested earnings of foreign subsidiary		(0.14	)		(8.30	)
Change in federal and state statutory rate		(0.80	)		(212.41	)
Valuation allowance		(36.78	)		174.28
Effective tax rate		(0.04	)%		(—	)%

Schedule of Deferred Tax Assets and Liabilities

Significant components of the Company’s deferred tax assets are as follows:

	December 31,
	2018			2017
Deferred Tax Assets
Federal R&D credit	$	2,819,000		$	2,819,000
Inventory		78,000			836,000
Allowance for bad debt		32,000			102,000
Compensation Related		3,000			120,000
Pension		6,000			33,000
Other Accruals		305,000			88,000
State Net operating losses		8,532,000			6,909,000
Federal Net operating losses		36,079,000			33,657,000
Property & Equipment		12,000			119,000
Stock Options		6,214,000			5,240,000
Other		834,000			623,000
Valuation Allowance		(53,573,000	)		(48,159,000	)
Total Deferred Tax Assets		1,341,000			2,387,000
Deferred Tax Liabilities
Property and Equipment		(215,000	)		(197,000	)
Intangibles		(1,080,000	)		(1,567,000	)
Inventory		—			(623,000	)
Prepaid Expenses		(24,000	)		—
Compensation Related		(22,000	)		—
Total Deferred Tax Liabilities		(1,341,000	)		(2,387,000	)
Net Deferred Tax Asset/(Liability)	$	—		$	—