Replies to post #76270 on Rightsmile, Inc. (RIGH)

[FullDeck]

Good catch and follow-up DD, Burn!

I'm glad SOMEONE took my advice and investigated further as I suggested:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105559659

If you're invested in RIGH in any serious way, you should follow up on this with your own DD AND a call to your CEO, Angel Stanz.

Well done.

The fact that RIGH still lost the ability (for an unexplained reason) to claim $1.37 MM as a deferred tax asset, and that RIGH (Angel) misleadingly or "erroneously" claimed it in the 2013 filing is still a concern, however.

As is the fact that RIGH mis-stated the amount in the Q2 filing when referencing the Accumulated Deficit reported in the 2013 Annual Report.

http://www.otcmarkets.com/financialReportViewer?symbol=RIGH&id=125532 NOTE 9- GOING CONCERN


These are items GAAP would demand supplemental explanatory notes for.

But glad to see it researched and explained. Again- well done.

Now if you can get Angel to do that work so shareholders don't have to... ;-)

All the best.

[Vapobag]

Great DD again BN!

[hereandthere]

Always on your A game burn, thanks for your efforts you put into RIGH!

[my2Mustangs]

ROTFL-In order to have a "deferred tax asset" there had to be a loss as your link clearly says, "loss carryover."

Definition

An asset that is used to reduce the amount of tax that a company will have to pay in a later tax period. It is often associated with a loss carryover, and is used as a future write-off if the next tax period is expected to produce positive earnings. The asset is kept on the balance sheet. For example, a deferred tax asset of $100,000 from the previous year could be applied to before-tax income of $250,000 this year, resulting in taxable income of $150,000 ($250,000 - $100,000).


Read more: www.investorwords.com/6478/deferred_tax_asset.html#ixzz3BtmTW89t

A "loss" is still a "loss" in order to have a corresponding "deferred tax asset." Even when claiming "revenue" of $161K when they spent $198K to make the claimed "revenue."

It's still a loss.