Tuesday, June 20, 2017 10:51:54 AM
AWSL is carrying Deferred Tax Assets of $1,703,927 at March 31, 2017 net of a valuation allowance of $8,147. Management is saying that there is a likelihood that the Company can earn enough future income that their net operating loss carryforwards will shelter future taxes of approximately $1.7M before the loss carryforwards expire.
You be the judge about management's past performance, revenue and profit generation. If management is too optimistic and the loss carryforwards expire before being fully utilized, they must be written off and AWSL's shareholders' equity of $1.4M will disappear.
At March 31, 2017, AWSL had cash of $451 and current liabilities of $582,881. You be the judge about how optimistic you wish to be about AWSL's future. Is AWSL even a going concern at this point?
https://www.otcmarkets.com/financialReportViewer?symbol=AWSL&id=172020
Go AWSL, Go!
Gilda
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