Quarterly report pursuant to Section 13 or 15(d)

Income Taxes

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Income Taxes
3 Months Ended
Mar. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXESThe Company has not generated taxable income since inception and the fair value of our investment in LMC has substantially decreased during the first quarter of 2021, resulting in a reduction to the corresponding deferred tax liability. Accordingly, the cumulative deferred tax assets are fully reserved as of March 31, 2021, as there is not sufficient evidence to conclude that it is more likely than not that deferred tax assets are realizable. The Company reduced the deferred tax liability to $4.2 million, resulting in a deferred tax benefit of approximately $17.6 million for the three months ended March 31, 2021. No current liability for federal or state income taxes has been included in these Condensed Consolidated Financial Statements.