Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Provision For Income Taxes From Operations


	For the year ended
Amounts in thousands	December 31, 2012
	2012	2011
U.S. Federal - Current	$ 67	$ 27
U.S. Federal - Deferred	0	0
Provision for U.S. federal income taxes	67	27

Foreign - Current	$ 1,009	$ 721
Foreign - Deferred	(48)	(81)
Provision for foreign income taxes	961	640
Total provision for income taxes	$ 1,028	$ 667

Tax Rate Reconciliation


Amounts in thousands	2012	2011
U.S. Federal income tax statutory rate	34.0%	34.0%
Foreign income taxes	-10.0%	-26.4%
Equity in Polish investment	0.2%	-0.6%
State income tax (net of federal benefit)	0.8%	-0.4%
Effect of stock option exercises	0.0%	1.8%
Valuation allowance	-2.6%	1.7%
Permanent and other items	-2.3%	8.0%
Total provision for income taxes	20.1%	18.1%

Deferred Income Taxes


Amounts in thousands	2012	2011
Deferred tax assets (liabilities) - U.S. Federal and state:

Deferred tax assets - current:
Accrued liabilities and other	$ 181	$ 156
Deferred tax (liabilities) - current:
Prepaid expenses	(101)	(120)
Valuation allowance	(177)	(144)
Net deferred tax (liabilities) - current	(97)	(108)

Deferred tax assets - non-current:
Amortization of goodwill for tax	526	578
Amortization of startup costs	359	401
Property and equipment	1,089	1,333
NOL carry forward	2,584	2,102
Accrued liabilities and other	371	1,005
Total deferred tax assets - non-current	4,929	5,419
Deferred tax (liabilities) - non-current:
Accumulated other comprehensive eanings	0	(310)
Valuation allowance	(4,832)	(5,001)
Net deferred tax assets - non-current	97	108
Total deferred tax assets - U.S. federal and state	$ 0	$ 0

Amounts in thousands	2012	2011
Deferred tax assets (liabilities) - foreign

Deferred tax assets - current:
NOL carryforward	$ 0	$ 13
Other	79	65
Net deferred tax assets - current	79	78

Deferred tax assets - non-current:
Property and equipment	621	620
NOL carryforward	2,504	2,748
Tax credits	348	0
Accrued liabilities and other	322	443
Deferred tax (liabilities) - non current:
Property and equipment	(2,682)	(2,292)
Others	0	(22)
Valuation allowance	(1,745)	(2,175)
Net deferred tax (liabilities) - non-current	(632)	(678)
Total deferred tax (liabilities) - foreign	($553)	($600)
Net deferred tax (liabilities)	($553)	($600)

Net Operating Loss Carryforwards

The following table summarizes the Company’s U.S. pre-tax basis net operating loss carryforwards and related expiration dates at December 31, 2012:


Amounts in thousands	2012
Expiration Date:	Amount
2027	$ 1,372
2028	3,458
2029	270
2031	240
2032	1,175
	$ 6,515

The following table summarized the Company’s foreign pre-tax basis net operating loss carryforwards and related expiration dates at December 31, 2012:


Amounts in thousands
Expiration Date:	Amount
2026	$ 113
2027	0
2028	1,518
2029	1,836
2030	1,516
2031	749
2032	1,196
Never	2,856
	$ 9,784

Tax Returns Subject To Examination, By Jurisdiction


Jurisdiction:	Periods
U.S. Federal	2005- 2011
U.S. State – Colorado	2003- 2011
Canada	2005- 2011
South Africa	1999- 2009