During the and months ended the Company recorded an expense provision for income taxes of less than million and million, respectively. The income tax provision relates principally to the Company’s state and local taxes and foreign operations in Canada. During the and months ended the Company recorded an expense provision for income taxes of million and an income tax provision benefit of million, respectively.

 

The Company’s realization of its deferred tax assets is dependent upon many factors, including, but  limited to, the Company’s ability to generate sufficient taxable income. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. The Company’s management has determined that it is more likely than  that the Company will  recognize the benefits of its federal and state deferred tax assets. Accordingly, the Company had a full valuation allowance for all deferred tax assets at and

 

In the Tax Cuts and Jobs Act (the  Tax Act”) was enacted. The  Tax Act includes many changes to existing U.S. tax laws that impact the Company, most notably a reduction of the U.S. corporate income tax rate from  to  for tax years beginning after The  Tax Act also provides for a -time transition tax on certain foreign earnings and the acceleration of depreciation for certain assets placed into service after as well as prospective changes beginning in  including repeal of the domestic manufacturing deduction, acceleration of tax revenue recognition, capitalization of research and development expenditures, additional limitations on executive compensation and limitations on the deductibility of interest.

 

The Company recognized the income tax effects of the  Tax Act in its  financial statements in accordance with SEC Staff Accounting Bulletin   which provides SEC staff guidance for the application of ASC Topic  - Income Taxes (“ASC ), in the reporting period in which the  Tax Act was signed into law. As such, the Company’s financial results reflect the income tax effects of the  Tax Act for which the accounting under ASC  is complete and provisional amounts for those specific income tax effects of the  Tax Act for which the accounting under ASC  is yet complete but a reasonable estimate could be determined. The ultimate impact of the  Tax Act on our financial statements and related disclosures for  and beyond differ from our current provisional amounts, possibly materially, due to, among other things, changes in interpretations and assumptions we have made, guidance that be issued and other actions we take as a result of the  Tax Act that differ from those presently contemplated.

 

As of the Company had yet completed its accounting for all of the tax effects of the enactment of the Tax Act; however, the Company has made a reasonable estimate of the effects on its existing deferred tax balances. The Company will continue to refine its calculations as additional analysis is completed. The Company expects that any additional changes will be offset by a corresponding increase or decrease in the Company’s valuation allowance.