Investor2014 - Please provide a link to information that the Australian tax credit is worth 43% in cash back of certain expenses. The 10-K only states the following:
The Company is eligible to obtain a research and development tax credit from the Australian Tax Authority (the “ATO”) for certain research and development activities undertaken in Australia. The tax incentive is available on the basis of specific criteria with which the Company must comply. Although the tax incentive is administered through the ATO, the Company has accounted for the tax incentive outside of the scope of ASC Topic 740, Income Taxes since the incentive is not linked to the Company’s income tax liability and can be realized regardless of whether the Company has generated taxable income in Australia. The Company recognizes as other income the amount received for qualified expenses in the period they are received.
Even if what you imply about Australia is true, it's still hard to see how Anavex has anywhere near the financial or human resources necessary to conduct multiple mid-stage clinical trials on three continents simultaneously without either a massively dilutive, near-term financing.
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