On4 Communications Inc (ONCI): Delaware debt is $900k++ through 2017. H...

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Re: 4on4off post# 154740

Sunday, 02/04/2018 12:36:33 PM

Sunday, February 04, 2018 12:36:33 PM

Delaware debt is $900k++ through 2017. Hardly small!!

As per phone call to Delaware

State of Delaware: Past Due Tax, currently the total amount past due is-$329,000. That is before any adjustments to the 2015 Tax year.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138196491

2014 & prior - $329k
2015 - $180k
2016 - $180k
2017 - $180k

Total debt NOT reported on 1/31 FINS - $869k
Interest & penalties - ?
Grand total - $900k++

This is how the Delaware tax calculated. Based on 5 Bil AS ONCI annual franchise tax exceeds the 180k max liability, so 180k is their liability per year. Btw, if Steve wanted to lower his tax liability all he needs to do is LOWER THE AS. Haha good luck with that!

https://www.cooleygo.com/so-you-owe-thousands-in-delaware-franchise-tax

As always. JMO

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