TAIT - I believe this explains the big tax benefit. From the 10-Q:
"Deferred Taxes – If determined that it is more likely than not that we will not realize all or part of our net deferred tax assets in the future, we record a valuation allowance against the deferred tax assets, which allowance will be charged to income tax expense in the period of such determination. We also consider the scheduled reversal of deferred tax liabilities, tax planning strategies and future taxable income in assessing if deferred tax assets could be realized. We also consider the weight of both positive and negative evidence in determining whether a valuation allowance is needed. However, we have fully reduced by $1,915,000 the entire valuation allowance against our net deferred tax assets at March 31, 2022 primarily as a result of our recent history of net income."
Now the $64,000 question is whether they are going to start showing tax expense? The next question is even if they show it, are they really going to be paying it?
I'm guessing they start showing the expense, but I could definitely be wrong.
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
