December 31,

201

and our deferred tax assets (“DTAs”) were approximately million and million, respectively. The components of our deferred tax assets are summarized as follows:

DTAs if, based on the weight of available evidence, it is more likely than that some or all of the DTAs be realized. Due to the uncertainty surrounding the realization of these DTAs in future tax returns, all of the DTAs have been fully offset by a valuation allowance at and except the alternative minimum tax (“AMT”) credit carryforward amount described below.

DTAs, management considers whether it is more likely than that some portion or all of the DTAs will be realized. The ultimate realization of DTAs is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax-planning strategies in making this assessment. Based upon the level of historical taxable income and projections for future taxable income over the periods in which the DTAs are deductible, management believes it is more likely than that the Company will realize the benefits of these deductible differences or tax carryforwards as of except for the AMT credit carryforward.

December 22, 2017.

35%

21%,

January 1, 2018.

DTAs of million with a corresponding net adjustment to a valuation allowance of million for the year ended The impact of many provisions of the Tax Act lack clarity and is subject to interpretation until additional IRS guidance is issued. The ultimate impact of the Tax Act differ from the Company’s estimates due to changes in the interpretations and assumptions made as well as any forthcoming regulatory guidance.

2018,

2019

2020.

  Companies continue using AMT credits to offset any regular income tax liability in years through with percent of remaining AMT credits refunded in each of the and tax years, and all remaining credits refunded in tax year   This results in full realization of an existing AMT credit carryforward irrespective of future taxable income.  Accordingly, the Company recorded AMT credit carryforwards of million in other noncurrent assets in the consolidated balance sheet as of

December 31,

201

and we had U.S. net operating loss carryforwards of approximately million and million, respectively. Of those amounts, million relates to stock-based compensation tax deductions in excess of book compensation expense (“APIC NOLs”) as of that will be credited to additional paid-in capital when such deductions reduce taxes payable as determined on a "with-and-without" basis. Accordingly, these APIC NOLs will reduce federal taxes payable if realized in future periods, but NOLs related to such benefits are included in the table above. As of we adopted ASU - and as such eliminated all APIC NOLs with a full offset to a valuation allowance.

December 31,

201

and we also had state net operating loss carryforwards of approximately million and million, respectively. The state net operating loss carryforwards will begin expiring in

December 31,

201

and we had U.S. R&D credit carryforwards of approximately million and million, respectively.

no

U.S. net operating loss carryforwards or R&D credit carryforwards during or The details of our U.S. net operating loss and federal R&D credit carryforward amounts and expiration dates are summarized as follows:

December 31,

201

and Cardiosonix recorded losses for financial reporting purposes of and respectively. As of Cardiosonix had tax loss carryforwards in Israel of approximately million. Under Israeli tax law, net operating loss carryforwards do expire. Due to the uncertainty surrounding the realization of the related deferred tax assets in future tax returns and the Company’s intent to dissolve Cardiosonix in the near term, all of the deferred tax assets were fully offset by a valuation allowance at Cardiosonix was legally dissolved in and as such we eliminated all tax loss carryforwards with a full offset to a valuation allowance.

382

383

1986,

U.S. net operating loss and R&D tax credit carryforwards be limited under the change in stock ownership rules of the IRC. The Company completed a Section analysis in and does believe a Section ownership change has occurred since then that would impact utilization of the Company’s net operating loss and R&D tax credit carryforwards.

1