You can't purchase NOL's. They are not transferable, especially not from a corporation to a person.
The formula you are talking about under Section 382 applies to a takeover of a C Corporation by another corporation. Not a person. Although the formula is complex, 16% ownership would not cut it. It would have to essentially be a full takeover by another corporation and even then the applicability is extremely limited.
Section 382 was enacted to prevent the trading of NOL's among corporations. Since its enactment, it has made NOL's largely worthless. Otherwise, wouldn't every profitable corporation in America be buying up all the failed ones? The Googles, Apples and Microsofts would all be snapping up these failed pink sheet companies left and right for their NOL's. But they don't, because the law says they can't use the NOL's. They don't transfer. And what little of the old NOL's could be used by the new corporation is so limited it is largely worthless, anyway.
I know there are a lot of stock promoters out there that say a failed company's NOL's have value, and thus the stock has value, but it just isn't true.
I suggest a quick call to a qualified CPA will quickly answer your question. Assuming they don't die laughing.
