Table:
| December 31 |  |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Net operating loss carryforwards | $7,672 | $4,541 |
| Stock options and warrants | 420 | 214 |
| Property | 138 | 299 |
| Intangible assets | 66 | 94 |
| Capitalized expenses | 54 | 86 |
| Other | 210 | 164 |
| Operating right-of-use lease assets | (667) |  |
| Operating right-of-use lease liabilities | 794 |  |
| Net deferred tax assets | 8,687 | 5,398 |
| Less: Valuation allowance | (8,687) | (5,398) |
| Deferred tax asset (liability) | $             - | $             - |
Paragraphs:
NOTE 13. INCOME TAXES
We calculate our provision for federal and state income taxes based on current tax law. U.S. federal tax reform (Tax Act) was enacted on December 22, 2017, and has several key provisions impacting the accounting for and reporting of income taxes. The most significant provision reduced the U.S. corporate statutory tax rate from 35% to 21% beginning on January 1, 2018. We remeasured the applicable deferred tax assets and liabilities based on the rates at which they are expected to reverse. As a result, the gross deferred tax assets and liabilities were adjusted which resulted in an expense for income taxes of $7.1 million which was fully offset by a corresponding change to our valuation allowance in 2017. The Tax Act contains several base broadening provisions that became effective on January 1, 2018, that did not have a material impact on 2018 and 2019 earnings.
Deferred tax asset (liability) is comprised of the following (in thousands):
We have determined it is more likely than not that our deferred tax assets will not be realized. Accordingly, we have provided a valuation allowance for deferred tax assets.
Question:
What is the percentage change in net operating loss carryforward in 2018 and 2019?
Answer: (7672 - 4541)/4541  = 68.95