Green Oasis (GRNO)

[rkiefhaber]

NOL's are of no value unless you have income to offset. GRNO has had operating losses of well over $10M since it's inception. The IRS has strict rules for an acquiring person or entity to assume these NOL's. The new GRNO would not be taxed on the first $10M of profit. I would imagine the ongoing tax returns as well as supporting financials would be a necessity from the years that you claimed the losses. This would have been negotiated when they acquired the shell from Carraway. The company makes no mention of it so I am assuming that it is a no go. I am not an accountant but it is a simple subject to research.
As far as SEC filings that is Margioti's problem at this point, I hope he gets Carraway's cooperation because he will need it to satisfy the SEC and bring financials up to date.
All in my humble opinion, of course.