INCOME TAXES (Tables)
 12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Significant components of the Company's net deferred tax assets and liability
The Company’s deferred tax assets consisted of the effects of temporary differences attributable to the following:
 
 
 
As of
 
As of
 
 
 
December 31,
 
December 31,
 
 
 
2015
 
2014
 
Deferred Tax Asset
 
 
 
 
 
 
 
Net-operating loss carryforward
 
$
11,429
 
$
8,001
 
Stock-based compensation
 
 
1,795
 
 
909
 
Others
 
 
(52)
 
 
107
 
Total Deferred Tax Assets
 
 
13,172
 
 
9,017
 
Valuation Allowance
 
 
(13,172)
 
 
(9,017)
 
Deferred Tax Asset, Net of Allowance
 
$
—
 
$
—
 
Schedule Of Effective Income Tax Rate Reconciliation
The expected tax expense (benefit) based on the U.S. federal statutory rate is reconciled with actual tax expense (benefit) as follows:
 
 
 
As of December 31,
 
As of December 31,
 
 
 
2015
 
2014
 
Statutory Federal Income Tax Rate
 
 
(34.0)
%
 
(34.0)
%
State Taxes, Net of Federal Tax Benefit
 
 
(5.9)
%
 
(5.0)
%
Change in Valuation Allowance
 
 
39.9
%
 
39.3
%
Change in State Rate
 
 
(2.2)
%
 
—
 
Others
 
 
2.2
%
 
(0.3)
%
Income Tax Provision (Benefit)
 
 
0.0
%
 
0.0
%
 
(dollars in thousands)
 
As of December 31, 2015
 
As of December 31, 2014
 
Federal
 
 
 
 
 
 
 
  Current
 
$
—
 
$
—
 
  Deferred
 
 
3,023
 
 
7,871
 
State
 
 
 
 
 
 
 
  Current
 
 
—
 
 
—
 
  Deferred
 
 
1,132
 
 
1,146
 
Change in Valuation Allowance
 
 
(4,155)
 
 
(9,017)
 
Income Tax Provision (Benefit)
 
$
—
 
$
—