Value Microcaps Motherboard

[stanu78]

Bob about Tax I really think Mike Early misunderstood the question or the situation...

I posted my response in the yahoo board..
but I really think they will start to see the fully taxed EPS in 2005 (very soon. I think very likely in Q105)

they will be double dipping otherwise...

Stan

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Bob..

I think there's a misunderstanding about the tax situation in 2005...

Just logically speaking... IMO 2005 EPS will be fully taxed (in GAAP income statement) because all the tax benefit has been reaped in Q404 (that $7M additional in net income and tax deferred asset)..

my point is if they not apply tax in Q105 in their income statement, they will be double counting/double dipping the tax benefit...

We'll see the Q105 result and find out who is correct on this one...

so I repeat again, MDF will show fully taxed EPS in 2005 IMO... but on cash flow statement, those will be charged to the tax deferred asset (the tax deferred asset will gradually move to cash and cash equivalent)

THat $7M that they recorded is for $20M+ tax loss carryforward.. and I don't understand when you mentioned that they still has $18.5M NOL t hat has not been used.. in my understanding they have used them all (on acounting basis) in Q404...

I think I probably need to read my tax accounting book again...

Stan