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Income Taxes
9 Months Ended
Sep. 30, 2014
Income Taxes [Abstract]  
Income Taxes

Income Taxes

We have provided a full valuation allowance against our deferred tax asset at September 30, 2014 and 2013, that results in no net deferred tax asset at September 30, 2014 and 2013 due to the uncertainty of realization (because of historical operating losses). The TRS Lessee has estimated its income tax benefit using a combined federal and state rate of approximately 38%.  The TRS net operating loss carryforward from September 30, 2014 as determined for federal income tax purposes was approximately $19.8 million. The availability of such loss carryforward will begin to expire in 2022.

The Company is currently evaluating the impact, if any, of its recently completed subscription rights offering to potentially limit its ability to fully utilize all of the net operating loss carryforwards.