Lehman Brothers Financial SA (LEHNQ)

[Dor]

Yes there was a deferred tax asset adjustment on 2017 for the rate change which was a charge to net income but only on the US operations. It was material but DB would have been profitable in 2017. It is profitable in Q1 2018. There is still significant benefit to the NOL’s given the Federal and state rates. DB has significant operations in the US and are profitable. However, they seem to be concentrating on other issues including cost cutting which could include income taxes. This would be a relatively easy choice. I think the NOL’s carryovers are still there not withstanding other opinions. I agree this is a long shot.