| Schedule of effective tax rate reconciliation |
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
2016
|
|
2015
|
|
Computed expected tax benefit
|
|
$
|
(1,485)
|
|
$
|
(3,385)
|
|
State tax benefit, net of federal benefit
|
|
|
(141)
|
|
|
(431)
|
|
Non-taxable income charge
|
|
|
(231)
|
|
|
(1,241)
|
|
Nondeductible expenses, principally goodwill & impairment
|
|
|
14
|
|
|
60
|
|
Change in valuation allowance
|
|
|
1,861
|
|
|
5,054
|
|
Foreign income tax
|
|
|
125
|
|
|
65
|
|
Total
|
|
$
|
143
|
|
$
|
122
|
|
| Significant portions of the deferred tax (assets) liabilities |
|
|
|
|
|
|
|
|
|
(in thousands)
|
|
2016
|
|
2015
|
|
Deferred revenue
|
|
$
|
321
|
|
$
|
(396)
|
|
Deferred rent
|
|
|
699
|
|
|
788
|
|
Accrued wages
|
|
|
34
|
|
|
119
|
|
Deferred state sales tax
|
|
|
30
|
|
|
19
|
|
Bad debt reserve
|
|
|
22
|
|
|
62
|
|
Foreign currency loss
|
|
|
39
|
|
|
40
|
|
Other
|
|
|
73
|
|
|
106
|
|
Current deferred tax assets
|
|
|
1,218
|
|
|
738
|
|
Depreciation and Amortization
|
|
|
(443)
|
|
|
(393)
|
|
Equity Based Compensation
|
|
|
2,432
|
|
|
2,131
|
|
Intangible Assets
|
|
|
(2,564)
|
|
|
(3,478)
|
|
Net operating loss carryforwards
|
|
|
25,654
|
|
|
25,078
|
|
Other
|
|
|
—
|
|
|
239
|
|
Non-current deferred tax assets
|
|
|
25,079
|
|
|
23,577
|
|
Total Deferred tax assets
|
|
|
26,297
|
|
|
24,315
|
|
Valuation allowance
|
|
|
(26,297)
|
|
|
(24,315)
|
|
Net deferred tax assets
|
|
$
|
—
|
|
$
|
—
|
|