Thursday, February 15, 2018 8:01:40 PM
Here's why...
According to Delaware, Steve Berman never submitted their 2015, 2016 & now 2017 financials.
So, Delaware estimated the 2015 & 2016 liability using 2014 AS count of 600MM and they arrived at an estimate of 329k. But Delaware said (below) the assessment was tentative and would change when the financials were filed with the State. Since Steve never filed, Delaware formally does not know ONCI raised there AS up to 5.03 Bil in 2015.
10/31/14 - 600MM AS
10/31/15 - 5.03 Bil AS
10/31/16 - 5.03 Bil AS
10/31/17 - 5.03 Bil AS
Tax liability
10/31/15 - 180k
10/31/16 - 180k
10/31/17 - 180k
Tax - $540k
Penalty & Interest - 30k (est)
Grand total - $570k
Delaware's default method to calculate the Franchise Tax is based on AS. The alternate method (Par Value) also exceeds the max liability.
Here's is how the Delaware Tax is computed based on AS
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