INCOME TAXES	3 Months Ended
Mar. 31, 2021
OTHER COMMITMENTS
NOTE - INCOME TAXES	NOTE 8 – INCOME TAXES Income tax benefit (expense) for the second quarter of both 2021 and 2020, primarily related to foreign and state taxes. The effective tax rate differed from the statutory tax rate primarily due to the effect of valuation allowances, as well as foreign taxes. We have a valuation allowance of $9.5 million as of June 30, 2021. As of June 30, for both 2021 and 2020, our deferred tax assets and valuation allowance have been reduced by approximately $376,000 and $363,000, respectively, associated with the requirements of accounting for uncertain tax positions. Given the uncertainty created by our loss history, as well as the volatile and uncertain economic outlook for our industry and capital spending, we have limited the recognition of net deferred tax assets including our net operating losses and credit carryforwards and continue to maintain a valuation allowance for the full amount of the net deferred tax asset balance.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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