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Friday, August 29, 2014 9:50:31 AM
Webs Woven and spun out of control for no reason...
There is no loss SOMEWHERE of $1.36 MILLION in Q2
If you're invested in RIGH in any serious way, you should follow up on this with your own DD.
Definition of "Deferred Tax Asset":
http://www.investorwords.com/6478/deferred_tax_asset.html
Let's start at the beginning- the 2013 Annual report figures:
The 2013 Annual Report said RIGH's "Accumulated Deficit" was $2,283,291.53 as of 12/31/2013:
(Page 15)
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=120871
Then on RIGH - Quarterly Report the amount jumps to $3,643,576
(Page 11)
http://www.otcmarkets.com/financialReportViewer?symbol=RIGH&id=125532
Let's go back to that Definition of "Deferred Tax Asset":
"An asset that is used to reduce the amount of tax that a company will have to pay in a later tax period. It is often associated with a loss carryover, and is used as a future write-off if the next tax period is expected to produce positive earnings."
RIGH no longer carried over the "Deferred Tax Asset" forward onto its Q2 "RIGH - Quarterly Report." See the "Balance Sheet" of the "RIGH - Quarterly Report" and "RIGH - Supplemental Fins." The amount (entire line entry) of $1.37 million is omitted for tax purposes. Then must be carried as a net loss.
(Page 3)
http://www.otcmarkets.com/financialReportViewer?symbol=RIGH&id=120871
(Page 4)
http://www.otcmarkets.com/financialReportViewer?symbol=RIGH&id=125532
All it takes, is knowing how to read a "Balance Sheet." Taxes, my friends.
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