Replies to post #158457 on On4 Communications Inc (ONCI)

[4on4off]

That is incorrect. Delaware entity details clearly shows the total A/S as 5.03 billion.

[Jimmy Quick]

Yep seen this before, completely unsubstantiated. Nothing new.

[Jimmy Quick]

Well Which is it really, everything keeps fluctuating and changing, that really is not how accounting works.

Delaware debt is $900k++ through 2017. Hardly small!!

Quote:simple DELAWAREdebt

As per phone call to Delaware

Quote:State of Delaware: Past Due Tax, currently the total amount past due is-$329,000. That is before any adjustments to the 2015 Tax year. 
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138196491

2014 & prior - $329k 
2015 - $180k 
2016 - $180k 
2017 - $180k 

Total debt NOT reported on FINS - $869k 
Interest & penalties - ? 
Grand total - $900k++ 

This is how the Delaware tax calculated. Based on 5 Bil AS ONCI annual franchise tax exceeds the 180k max liability, so 180k is their liability per year. Btw, if Steve wanted to lower his tax liability all he needs to do is LOWER THE AS. Haha good luck with that! 

[Jimmy Quick]

How come you leave out part about penalties and intetest when you calculate expected payment.

Annual Report 
File No: 3397838 

Name: ON4 COMMUNICATIONS, INC. 

Entity is inactive. Payment of tax does not restore the entity to good standing. Please contact General Information at [phone], Option 2 for further assistance. 
Tax Year Action 
2015 File Annual Report 
2016 File Annual Report 

Quarterly Tax Payments 

Pay Description: Overdue Tax, Penalty and Interest
Amount Due: $329,519.62
Tax Year: 2016
Due Date: Past Due Date