Sorry away on business. My point is that a certain debt can be sold and that is tax debt. It can be with held as long as there is collateral held against it and interest is paid too the goverment. The debt can be sold for a maximum of ten times its book value.
The book value is as many have discovered is the share holders deficit refected by the par value of the offering.
This value is closely monitored and held by the issuing as well the forward and reversing of the offering.
But as noted there is always a lag in the market reactions to price fixing.
The increase in the tax debt is a reflection of the increase in revenue with the removal of depreciation.
For every dollar of depreciation there is a $.30 tax depreciation that goes with it that helps reduce the tax debt without the introduction of additional capital. Equity raised has no tax associated as its pre taxed . A dollar of dividend repayment has no tax if the shares are cancelled after payment. The revenue generated by market valuations are taxable leaving often a zero sum play for investors unless that tax debt is sold then there is a deficit that must be paid.
The money raised from the sale of the tax debt is most often loaned back to the company on a five year term to a maximum of twenty years depending on the accumulated administrative charges.
Don’t be taking what I say as the gospel. I’m no trained financial administer of education only a messenger of things I hear. Do your own dudilagence “DD” and discover the truth for your selfs.
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