Protagenic Therapeutics Inc. (PTIX)

[StockBang]

The accounting behind it is a reduction in the intangible asset of 1.2 million. This was never a true asset as it is intangible. The other side of the accounting was debited to an impairment expense of 1.2 million. The earnings in 2011 will be affected by a 1.2 million increase in expenses. No cash will have to be paid for this. It's merely an expense on the financials. So yes, the will have a bigger loss in 2011 because of this.

Good news for longs though, as 2011 was a huge loss anyways. Now we have that expense off the books and can be profitable in 2012 without having that expense hanging out there anymore.