Spongetech Delivery Systems Inc (fka SPNGQ)

[harvard homeboy]

The filed IRS 1120 and the SEC documents will match up perfectly.


I doubt it, but if they do it will be a coincidence more than anything else. There are usually significant diferences between what a company reports as GAAP-compliant net income and what a company reports as net income to the IRS.

After all, there are timing differences for tax purposes in the depreciation of fixed assets, for one thing, and most of the timing differences for tax purposes are captured in the deferred tax asset and deferred tax liability accounts.