..The Delaware statute of limitations for contract type claims is either three years (general contracts) or four years (UCC claims). Yet the statute of limitations for the IRS to assert tax recovery claims on things such as payroll taxes or ERISA claims well exceeds these Delaware periods.
ONCI owes approx. $570k Delaware franchise tax, not $329k as previously discussed.
Here's why...
According to Delaware, Steve Berman never submitted their 2015, 2016 & now 2017 financials.
So, Delaware estimated the 2015 & 2016 liability using 2014 AS count of 600MM and they arrived at an estimate of 329k. But Delaware said (below) the assessment was tentative and would change when the financials were filed with the State. Since Steve never filed, Delaware formally does not know ONCI raised there AS up to 5.03 Bil in 2015.
AS count 10/31/14 - 600MM AS 10/31/15 - 5.03 Bil AS 10/31/16 - 5.03 Bil AS 10/31/17 - 5.03 Bil AS