iLinc Communications, Inc (ILC)

[thepennyking]

INCOME TAX EXPENSE


The Company recorded no tax benefit during the three and nine months ended December 31, 2003 or 2002 because it concluded it is not likely it would be able to recognize the tax asset created due to the lack of operating history. At March 31, 2003, the Company has a net deferred tax asset of $9.9 million with a corresponding valuation allowance. The Company's tax benefits are scheduled to expire over a period of six to fourteen years.