Income Taxes (Table)

12 Months Ended

Dec. 31, 2016

Income Taxes

Schedule of income tax benefit

The income tax benefit differed from the amounts computed by applying the federal statutory income tax rate of 34% to pretax income from operations as a result of the following:

	Year Ended December 31,
	2016			2015
Income tax benefit at statutory federal rate	$	(3,723	)	$	(6,179	)
Increase (reduction) in income taxes resulting from:
Nondeductible expenses		7			69
Fair value adjustment on convertible notes		2			226
State and local income taxes, net of federal income tax benefit		(505	)		(799	)
Federal valuation allowance		3,714			5,884
State valuation allowance		505			799
	$	—		$	—

Schedule of deferred tax assets

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets are presented below:

	At December 31,
	2016			2015
Deferred tax assets:
Deferred rent	$	25		$	11
Deferred revenue		-			85
Federal and state net operating loss carryforwards		10,818			10,727
Stock-based compensation		4,831			6,493
Compensation accruals and other		553			36
Total deferred tax assets		16,227			17,352
Valuation allowance		(16,144	)		(17,277	)
Net deferred tax assets		83			75
Deferred tax liabilities:
Total deferred tax liabilities		(83	)		(75	)
Net deferred tax asset (liability)	$	-		$	-
Property and equipment		(83	)		(75	)