Replies to post #104146 on CBA Florida Inc. (fka CBAI)

[Myth]

After any liabilities are dealt with, add to that the burn rate of other costs over the 2 yr period the remaining money will be disbursed to shareholders imo.

Not sure why you asked this..

Accordingly we also are asking you to vote to amend our amended restated articles of incorporation to change our name to CBA, Inc contingent upon closing the sale.

The answer is in the filing I gave you.

imo some of the 50 ml tax loss credit will be used by the co, but no where near 50 ml, I also don't believe any remaining balance can be used by a private co that would reverse merge with the shell.


TAX BENEFITS PRESERVATION PLAN

WHEREAS, the Company has generated or expects to generate certain Tax Benefits (as defined herein) for United States federal income tax purposes, such Tax Benefits may potentially provide valuable benefits to the Company, the Company desires to avoid an “ownership change” within the meaning of Section 382 of the Internal Revenue Code of 1986, as amended (the “Code”), and the Treasury Regulations (as defined herein) promulgated thereunder, and thereby preserve the Company’s ability to fully utilize such Tax Benefits and certain built-in losses, and, in furtherance of such objective, the Company desires to enter into this Agreement.

imo this was done because of an IRS reg that limits 4.9 % shareholders, and is no concern to the ave Joe. This is all complicated, no one will dispute that, but imo doesn't affect anyone under 4.9%.

All my opinion Tony, my advice would be contact a professional and ask for advice.

gl