Impact Fusion International Inc (IFUS)

[Slojab]

Now, I'm very confused. Why is IFUS being defined as a shell? First of all, a shell has no assets. But the assets mentioned don't include an operating business. What would happen to the Intact and Supreme Gold business? As to NOLs, it's not as rosy a scenario as painted.

Section 382 Limitation

An NOL may be considered a valuable asset because it can lower a company’s amount of taxable income. For this reason, the Internal Revenue Service (IRS) has a restriction on using an acquired company simply for its NOL’s tax benefits. Section 382 of the Internal Revenue Code states that if a company with a NOL has at least a 50% ownership change, the acquiring company may use only that part of the NOL in each concurrent year that is based on the long-term tax-exempt bond rate multiplied by the stock of the acquired company. However, purchasing a business with a substantial NOL may mean an increased amount of money going to the acquired company’s shareholders than if the business possessed a smaller NOL.