Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Loss before income tax expense

Loss before income tax expense for the United States of America and the State of Israel for the years ended December 31, 2014, 2013 and 2012 consisted of:



	2014			2013			2012
Loss before income tax expense:
United States of America	$	(12,350,762	)	$	(15,416,885	)	$	(23,482,045	)
State of Israel	(517,836		)	(4,896,769		)	(10,468,470		)
	$	(12,868,598	)	$	(20,313,654	)	$	(33,950,515	)

Schedule of components of income tax expense attributable to income from continuing operations

Income tax expense attributable to income from continuing operations for the years ended December 31, 2014, 2013 and 2012 consisted of:



	2014		2013		2012
Current income tax expense:
Federal	$	—	$	—	$	—
State	12,000		10,610		12,033
Foreign	—		—		—
	12,000		10,610		12,033
Deferred income tax expense:
Federal	—		—		—
State	—		—		—
Foreign	—		—		—
	—		—		—
Total income tax expense	$	12,000	$	10,610	$	12,033

Schedule of significant differences between the United States federal statutory tax rate and the Company's effective tax rate for financial statement reporting purposes

The following table summarizes the significant differences between the United States federal statutory tax rate and the Company's effective tax rate for financial statement reporting purposes:



	2014		2013		2012
Statutory tax rate	34	%	34	%	34	%
Stock-based compensation on ISO's	—		(4	)	(7	)
State tax, net of federal benefit	—		—		—
Change in valuation allowance	(34	)	(30	)	(27	)
Total	—	%	—	%	—	%

Schedule of tax effects of temporary differences that give rise to the deferred tax asset

The tax effects of temporary differences that give rise to the deferred tax asset at December 31, 2014 and 2013 are as follows:



	2014			2013
Deferred tax assets:
Net operating loss carryforwards	$	110,747,000		$	106,210,000
Accrued expenses	1,878,000			2,463,000
Intangibles	86,000			289,000
Reserves	—			846,000
Depreciation	211,000			159,000
Net deferred tax assets	112,922,000			109,967,000
Less valuation allowance	(112,553,000		)	(109,565,000		)
Deferred tax assets	369,000			402,000
Deferred tax liabilities:
Acquired intangible assets	(369,000		)	(402,000		)
Net deferred tax assets (liabilities)	$	—		$	—