FBCD is looking like they are going to meet that timeline since they have submitted all the necessary financials to be current this past Saturday as indicated below: https://www.otcmarkets.com/stock/FBCD/disclosure
FBCD only looks to need to file their Attorney Letter of which I suspect will be filed very soon.
SSM Monopoly Corp seems to have a "successful blueprint" that they follow to bring success and growth to the companies that they are awarded custodianship over by the court. They have shown evidence to the court to where the court is strongly convinced that SSM Monopoly Corp truly do have shareholders best interest at heart to save them from falling into a state of extinction and into a state of successful recovery.
AVVH is one stock that SSM Monopoly Corp was awarded custodianship of too that has been placed on the right track for success by them. Let's "Compare and Contrast" some similarities with AVVH of which FBCD is following their same pattern for success. Before reading further, I am in both, and I like a lot.
AVVH = Custodianship Awarded by Court to SSM Monopoly Corp FBCD = Custodianship Awarded by Court to SSM Monopoly Corp
AVVH = Outstanding Shares (OS) is 1,910,828,559 Shares FBDC = Outstanding Shares (OS) is 2,449,627,869 Shares
AVVH = Hit a Recent Previous High of .0924 Per Share FBCD = Hit a Recent Previous High of .0296 Per Share
AVVH = 52wk Low of .0002 Per Share FBCD = 52wk Low of .0001 Per Share
AVVH = Currently at .07 per share and expected to go much higher. FBCD = Currently at .021 per share and expected to go much higher.
AVVH = No Notes and No Other Forms of Toxic Financing FBCD = No Notes and No Other Forms of Toxic Financing
AVVH = $30,900,975 Tax Net Operating Loss (NOL) Carry Forward FBCD = $27,795,316 Tax Net Operating Loss (NOL) Carry Forward
This $27,795,316 Tax NOL Carry Forward is huge as this likely makes FBCD the perfect acquisition/merger candidate for the pending company that is coming into FBCD:
Some see that a Tax NOL is synonymous to an Accumulated Deficit for being an accumulation of losses since inception. That could be the case, but actually, an Accumulated Deficit is not necessarily equal to the Tax NOL, but the Tax NOL is derived from the Accumulated Deficit. Yes, Net Operating Losses (NOLs) are available for tax purposes, but those loses are derived from Accounting Losses. Heck, everything in relation to a public company evolves around the Accounting. The single most important thing to know about a Tax NOL is that... a Tax NOL will offset the pre-tax income or Revenues.
The one thing that we do have to keep in mind is that the total amount for the Tax NOL for FBCD might not be the entire $27.7 Million for one year as that would be the best-case scenario. This is because Congress enacted a code through Section 382 within the IRS Code where it was modified to limit the losses of a corporation ability to carry forward and set off NOLs if an ownership change has occurred.
FBCD. I suspect, will have a change in control of ownership. This means that even though they have the full allowance of the $27.7 Million, they will only be able to use an insignificant amount against future taxable income. This is still huge because the $27.7 Million is available to be used as a 2 year carry back and 20 year carry forward Tax Net Operating Loss (NOL) to reduce the taxable income for the company’s future tax years. Even as a worst case scenario, for an insignificant amount, they would be able to implement the 20 year carry forward using all of the $27.7 Million Allowance. Still, that equates to over $1.385 Million per year to be allowed to go towards reducing taxable income for the company’s future tax years.
Below are some good links and videos to listen and understand the logic regarding Net Operating Losses (NOL):
http://www.investopedia.com/terms/n/netoperatingloss.asp NOL carryforwards are recorded as an asset on the company's general ledger. They offer a benefit to the company in the form of future tax liability savings. A deferred tax asset is created for the NOL carryforward, which is offset against net income in future years. The deferred tax asset account is drawn down each year, not to exceed 80% of net income in any one of the subsequent years, until the balance is exhausted.