Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Loss Before Income Tax Provision

The provision (benefit) for income taxes is based on loss from operations before provision for income taxes and noncontrolling interests as follows ($ in thousands):



	Years Ended December 31,
	2018			2017
United States	$	(16,168	)	$	(27,698	)
	$	(16,168	)	$	(27,698	)

Schedule of Components of Income Tax Benefit

The benefit from income taxes was as follows ($ in thousands):



		Years Ended December 31,
		2018		2017
Current
	U.S. Federal	$	—	$	(9,310	)
	State and local	—		(1,641		)
		$	—	$	(10,951	)
Deferred
	U.S. Federal	$	—	$	(576	)
	State and local	—		—
		$	—	$	(576	)
Total
	U.S. Federal	$	—	$	(9,886	)
	State and local	—		(1,641		)
		$	—	$	(11,527	)

Schedule of Reconciliation of Effective Income Taxes

The provision (benefit) for income taxes is determined by applying the U.S. Federal statutory rate of 21% to income before income taxes as a result of the following ($ in thousands):



	Years Ended December 31,
	2018			2017
U.S. Federal benefit at statutory rate	$	(3,395	)	$	(9,417	)
State and local (benefit) / expense net of U.S. federal tax	—			(1,641		)
Permanent non deductible expenses for U.S. taxes	11			107
AMT credit benefit	—			(576		)
Change in state deferred	2,799			—
Return to actual	(177		)	—
Other true ups	(1,949		)	—
Effect of change in deferred tax rate	—			29,809
Valuation allowance for deferred tax assets	2,711			(29,809		)
Tax provision benefit	$	—		$	(11,527	)

Schedule of Components Deferred Income Taxes

Deferred income taxes at December 31, 2018 and 2017 consist of the following ($ in thousands):



	December 31,
	2018			2017
Deferred Tax Assets:
Accumulated net operating losses (tax effected)	$	60,544		$	60,171
CIRM funding	1,033			1,780
Deferred rent	5			3
Share-based compensation	6,390			2,656
Intangibles	199			270
Charitable contributions	9			11
Accumulated depreciation	9			22
Accrued payroll	117			682
AMT credit	—			575
Other	525			526
Deferred tax assets	68,831			66,696
Deferred tax liabilities	—			—
	68,831			66,696
Valuation allowance	(68,831		)	(66,121		)
Net deferred tax asset	$	—		$	575