Carnegie Development Inc. (CDJM)

[Dan Simmons]

Straight from the S1/A/A/A

At December 31, 2015, the Company had available net operating loss carryovers of approximately $3 million that may be applied against future taxable income and expires at various dates between 2026 and 2031, subject to certain limitations. The Company has a deferred tax asset arising substantially from the benefits of such net operating loss deduction and has recorded a valuation allowance for the full amount of this deferred tax asset since it is more likely than not that some or all of the deferred tax asset may not be realized.

$3 million in tax credits and they don't expect to take advantage of it before 2031? So much for that "they bought the broken shell for the tax credits" argument. They claim to have clients lining up to buy the product that doesn't exist but they don't expect to take advantage of the tax credits this scam shell accumulate before 2031?