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Income Taxes
3 Months Ended
Mar. 31, 2015
Income Taxes [Abstract]  
Income Taxes

Income Taxes

We have provided a full valuation allowance against our deferred tax asset at March 31, 2015 and 2014, that results in no net deferred tax asset at March 31, 2015 and 2014 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 March 31, 2015 as determined for federal income tax purposes was approximately $20.8 million. The availability of such loss carryforward will begin to expire in 2022 through 2034.

The Company is completing an evaluation of the impact, of its recently completed subscription rights offering on its ability to fully utilize all of the net operating loss carryforwards. The Company believes the results of this analysis will likely indicate that a change in control event (as defined for tax purposes) occurred, and the Company will be limited in the use of its net operating loss carryforwards.