Income Taxes

3 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

16. Income Taxes

As of March 31, 2017, the Company had approximately $28.9 million of the U.S domestic cumulative tax loss carryforwards and approximately $17.5 million of the foreign cumulative tax loss carryforwards, which may be available to reduce future income tax liabilities in certain jurisdictions. These U.S. and foreign tax loss carryforwards will expire beginning year 2028 through 2036 and year 2018 to year 2022, respectively.

The income tax expense for the three months ended March 31, 2017 is nil because net operating loss carryovers offset current taxable income and deferred tax assets related to the net operating loss carryovers utilized had been offset by a valuations allowance. Company had established a 100% valuation allowance against its net deferred tax assets due to its history of pre-tax losses and the likelihood that the deferred tax assets will not be realized. The valuation allowance was decreased approximately $0.4 million during the three months ended March 31, 2017.

As of March 31, 2017, there are no unrecorded tax benefits which would impact our financial position or our results of operations.