Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Details 2)

v3.3.1.900
INCOME TAXES (Details 2) - USD ($)
$ in Thousands
Dec. 31, 2015
Dec. 31, 2014
Deferred tax assets:    
Research and development credit carryforward [1] $ 6 $ 6
Net operating loss carryforwards 11,645 11,320
Stock-based compensation 3,186 1,336
Accrued bonuses 388 200
Other 224 364
Total deferred tax assets 15,449 13,226
Valuation allowance (15,449) (13,226)
Net deferred tax assets $ 0 $ 0
[1] The Company has incurred research and development ("R&D") expenses, a portion of which may qualify for tax credits. The Company has not conducted an R&D credit study to quantify the amount of credits and has not claimed an R&D credit on its federal tax returns filed except for $6,188 in 2007. The Company may conduct the study in future years and may establish the R&D credit carryforward for prior years. In such event, the net operating loss carryforward will be correspondingly reduced by the amount of the credit.