NanoTech Entertainment Inc (NTEK)

[DavidRFoley99]

NTEK Debt as reported in the March 31, 2013 Financials is $1.4M.

The accumulated deficit is $5.2M.

Accumulated Deficit is not debt. The term used in place of retained earnings when a corporation has a negative (debit) balance in its account. While methods of accounting for an accumulated deficit vary somewhat, it is common for businesses to note the amount of the net loss under the stockholder equity carried by the firm. This makes it possible to document the loss in the company’s accounting records as well as identify the amount for purposes of claiming any applicable tax breaks.