Replies to post #37564 on Amarin Corp Plc (AMRN)

[HDGabor]

I bookmarked it, but was too busy.

I will answer your questions, but please note that you could not valuate AMRN based on current P&L, BS and CF since the biggest part of the value is the future (R-IT).

EXCHANGEABLE SENIOR NOTES: It's minus and the value is $150M (The diff. is booked on other lines as accounting technique.

OPTIONS, WARRANTS: The value is plus, however it's a "dilution" by the number of shares

RESTRICTED STOCK UNITS: It's a "dilution"

TAX LOSS CARRYFORWARDS: The latest, exact info is from 10-K 2013:

"The Company has combined Irish, UK, and Israeli net operating loss carryforwards of $528.2 million, which do not expire. In addition, the Company has available U.S. Federal tax credit carryforwards of $4.1 million and state tax credit carryforwards of $1.8 million. These carryforwards, which will expire starting between 2029 and 2032 may be used to offset future taxable income, if any. The Company recognized a tax benefit related to the extension of 2012 research and development credits into 2013 and recorded a discrete benefit of approximately $1.9 million."

and they generated additional loss in 2014. Furthermore, loss carryforward is not equal with "tax base decrease". ie.: depreciation acc. to tax law decrease the base, but the booked depr. increase the base (the tax and accounting depreciation rate do not have to be the same).