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Income Taxes (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Benefit for Income Taxes Differs from Amount Obtained by Applying Federal Statutory Income Tax Rate to Loss before Benefit for Income Taxes

The benefit for income taxes differs from the amount obtained by applying the federal statutory income tax rate to loss before benefit for income taxes for 2015, 2014 and 2013 as follows:

 

     2015     2014     2013  

Tax benefit computed at federal statutory rate

     34.0     34.0     34.0

Increase (decrease) in taxes due to:

      

Change in valuation allowance

     (30.0     (39.8     (39.8

Permanent differences (stock options, warrant fair value, other)

     (9.8     —          —     

State taxes, net of federal benefit

     5.8        5.8        5.8   
  

 

 

   

 

 

   

 

 

 
     —       —       —  
  

 

 

   

 

 

   

 

 

 

Significant Components of Deferred Tax Assets (Liabilities)

The significant components of deferred tax assets (liabilities) at December 31 are as follows:

 

     2015      2014  

Loss carryforwards

   $ 15,208,000       $ 11,490,000   

Depreciation

     1,084,000         1,490,000   

Tax credits

     574,000         388,000   

Inventory

     308,000         292,000   

Other

     101,000         280,000   

Less: valuation allowance

     (17,275,000      (13,940,000
  

 

 

    

 

 

 
   $ —         $ —