BB's Stock Haven

[pennystock_es]

I need help with a WDDD 10K, year-end with $82,179 profit? I like that they also have a tax asset of $45 million and that the directors are up to 90 years old:

https://www.otcmarkets.com/filing/html?id=17450575&guid=msQ-kq652ghBWBh

Thomas Kidrin 71 President, Chief Executive Officer, Secretary, Treasurer, Director
Christopher J. Ryan 63 Vice President-Finance, Principal Accounting and Chief Financial Officer
Leonard Toboroff 90 Director

NOTE 5 - INCOME TAXES



At December 31, 2023, the Company had federal and state net operating loss carry forwards of approximately $45,000,000 that expire in various years through the year 2042.



Due to net operating loss carry forwards and operating losses, there is no provision for current federal or state income taxes for the years ended December 31, 2023 and 2022.



Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amount used for federal and state income tax purposes.



The Company’s deferred tax asset at December 31, 2023 consists of net operating loss carry forwards calculated using federal and state effective tax rates equating to approximately $17,235,609 less a valuation allowance in the amount of approximately $17,235,609. Because of the Company’s lack of earnings history, the deferred tax asset has been fully offset by a valuation allowance. The valuation allowance increased by approximately $198,580 for the year ended December 31, 2022. The Company had net income in 2023.