Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Components of Income Tax Expense Benefit

The components of the income tax expense/(benefit) related to continuing operations, are as follows:



	Year ended December 31,		Year ended December 31,		Year ended December 31,
($ in thousands)	2014		2013		2012
U.S. Federal:
Current	$	—	$	—	$	—
Deferred	—		—		(2,068		)
U.S. State:
Current	—		—		—
Deferred	—		—		(432		)
	$	—	$	—	$	(2,500	)

Schedule of Effective Income Tax Rate Reconciliation

The reconciliation between income taxes/(benefit) at the U.S. federal statutory rate and the amount recorded in the accompanying consolidated financial statements is as follows:



	Year ended December 31,			Year ended December 31,			Year ended December 31,
($ in thousands)	2014			2013			2012
Tax benefit at U.S. federal statutory rate	$	(8,977	)	$	(11,044	)	$	(5,475	)
Increase in domestic valuation allowance	11,109			11,626			11,127
State income taxes/(benefit) before valuation allowance, net of federal benefit	(846		)	(1,026		)	(1,971		)
Capital loss limitation	—			—			(817		)
Loss on extinguishment of debt	—			—			1,966
Derivative revaluation expense	—			—			8
Warrant revaluation and other finance (income)/expense	(1,375		)	369			(7,141		)
Other	89			75			(197		)
	$	—		$	—		$	(2,500	)

Schedule of Deferred Tax Assets and Liabilities

The components of the Company’s net deferred tax assets and liabilities at December 31, 2014, 2013 and 2012 are as follows:



($ in thousands)	December 31, 2014			December 31, 2013			December 31, 2012
Deferred tax liabilities:
Intangible assets	$	2,001		$	2,247		$	2,282
Total deferred tax liabilities	$	2,001		$	2,247		$	2,282
Deferred tax assets:
Loss carryforwards	$	63,560		$	54,253		$	49,598
Capital loss carryforward	841			844			817
Property and equipment	1,135			1,149			1,327
License fees	7,055			5,393			—
Accrued expenses and other	602			412			360
Stock compensation	2,953			2,698			2,492
Total deferred tax assets	76,146			64,749			54,594
Less: valuation allowance	(74,145		)	(62,502		)	(52,312		)
Total deferred tax assets	$	2,001		$	2,247		$	2,282
Net deferred tax assets	$	—		$	—		$	—