Protagenic Therapeutics Inc. (PTIX)

[Yankyfann1]

Tax Info from Delaware....

This question about the taxes appears to be a non-issue. I just confirmed with the State of Delaware that Atrinsic did in fact pay its 2011 Franchise Tax. However, because the large drop in claimed assets affected the amount calculated/due, the State has asked Atrinsic for additional support to confirm that the amount calculated is correct. Per Delaware, until this confirmation occurs, EVEN THOUGH PAID, the amount due the previous quarter will still show as outstanding.

Here is my IM with a representative from Delaware:

Atrinsic Shareholder: Could you please confirm if Atrnisic, Entity 2375531, is current with respect to its 2011 Franchise Tax obligations, and does the balance for the previous quarter remain outstanding?

Jeffrey: Let me transfer you to the Franchise Tax section.
Please wait while I transfer this chat to the best suited site operator.

You are now chatting with 'Eleanor' with the Delaware Division of Corporations Franchise Tax Section.

Eleanor: Hello, Please hold as I review your question.

Eleanor: A copy of the signed Sch L, 1120 has been requested to confirm the figures reported on the 2011 annual franchise tax report.

Eleanor: Once this is received and approved the quarterly taxes for 2012 will change.

Atrinsic Shareholder: I am looking to confirm if Atrnisic is current with respect to the 2011 Franchise Tax – are there any taxes due in arrears?

Eleanor: The 2011 annual report has been filed and paid but it is still showing a balance due until the figures are confirmed.

Atrinsic Shareholder: Is this typical?

Eleanor: What triggered the request was the large drop in assets. When there is a big change the figures have to be confirmed.

Atrinsic Shareholder: Thank you for your assistance.

Eleanor: You are welcome.

Eleanor: Is there anything else I can assist you with today?

Atrinsic Shareholder: That will be it. Thank you again.

Eleanor: You are welcome.

Eleanor: Thank you for contacting us online.

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