DG, I apologize about my limited knowledge when it comes to taxes, but I have one more question about this topic.
The Bio-Art LLC is partly owned by LRS (5%), making it a multi owner LLC, correct? Does this affect how taxes are reported for any transactions between the LLC and LRS?
DG...I think the agreement only called for an allocation (consolidation) of NET Profits at the end of each fiscal year of the LLC. 50/50 on machine net profits and 40/60 on any by-product net profits .
No cash flow to ECOS until the LLC shows some net profits? That could be several years with start up costs as they are? LRS controls the whole show IMO
ECOS desperately needs to place some machines other than with LRS to survive IMO.
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