Income Taxes
|
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2012
|
||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes |
15. Income Taxes No provision for Federal and State income taxes was required for the three and six months ended June 30, 2012 and 2011 due to the Company's operating losses and increased deferred tax asset valuation allowance. At June 30, 2012 and December 31, 2011, the Company has unused net operating loss carry-forwards of approximately $58,970,000 and $55,394,000 which expire at various dates through 2032. Some of this amount may be subject to annual limitations under certain provisions of the Internal Revenue Code related to "changes in ownership." As of June 30, 2012 and December 31, 2011, the deferred tax assets related to the aforementioned carry-forwards have been fully offset by valuation allowances, since significant utilization of such amounts is not presently expected in the foreseeable future. Deferred tax assets and valuation allowances consist of:
The Company files income tax returns in the U.S. Federal and Maryland state jurisdictions. Tax years for fiscal 2008 through 2011 are open and potentially subject to examination by the Federal and Maryland state taxing authorities. |
X | ||||||||||
- Definition
The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|