Replies to post #6800 on VG Life Sciences Inc. (VGLS)

[pennyonfire]

9/30/25 quarterly filing:

NOTE 9 – INCOME TAXES
The Company has accumulated approximately $115,000,000 of net operating losses (“NOL”) as of September 30, 2025 carried
forward to offset future taxable income. In assessing the realization of deferred tax assets, management considers whether it is more
likely than not that some portion or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is
dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible.
Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in
making this assessment. Based on the assessment, management has established a full valuation allowance against all of the deferred
tax asset relating to NOLs for every period because it is more likely than not that all of the deferred tax asset will not be realized.
Due to the change in ownership provisions of the Internal Revenue Code §381, net operating loss carryovers for Federal income tax
reporting purposes are subject to annual limitations. Should a change in ownership occur, net operating loss carry forwards may be
limited as to use in future years.