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Re: pdicamillo1 post# 1888

Wednesday, 11/03/2021 10:39:22 PM

Wednesday, November 03, 2021 10:39:22 PM

Post# of 13466
Hi pdicamillo1,

"As of June 30, 2021, the Company expected no net deferred tax assets to be recognized, resulting from net operating loss carry forwards. Deferred tax assets were offset by a corresponding allowance of 100%" https://www.otcmarkets.com/otcapi/company/financial-report/305339/content

GMZP did have a change in control of ownership. This means that even though they have the full allowance of the $72.2 Million, they will only be able to use an insignificant amount against future taxable income. This is still huge because the $72.2 Million is available to be used as a 2 year carry back and 20 year carry forward Tax Net Operating Loss (NOL) to reduce the taxable income for the company’s future tax years.

This is still huge because even a worst case scenario, for an insignificant amount, would be to implement the 20 year carry forward which with using all of the $72.2 Million Allowance. Still, that equates to over $3.6 Million per year to be allowed to go towards reducing taxable income for the company’s future tax years.


My posts are NOT a buy/sell recommendation, Do your Own DD, before you buy any stock/option - I reserve the right to buy/sell any stock/option or any security I post about or not.