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Bullboard - Stock Discussion Forum Resource Capital Gold Corp GDPEF

RF Capital Group Inc is a financial services firm. The company's operating segment includes Wealth Management and Corporate. It generates maximum revenue from the Wealth Management segment. The operations segment provides carrying broker services to third parties, including trade execution, clearing, and settlement services.

GREY:GDPEF - Post Discussion

Resource Capital Gold Corp > tax credits again
View:
Post by LeftBook on May 15, 2019 11:02pm

tax credits again

I wrote ...
If there is an area that the annual reports were weak or left us in the dark it would be the tax credits. Significant tax credits were noted for the first time in June 2018 annual report. 
 
This is not true. The tax credits were just documented differently in the past.
 
eg June 2014
Loss Carry forwards and Resource Pools:
 
As at June 30, 2014, the Company has accumulated non-capital losses of approximately $10,482,537 of which $8,156,979 are at a tax rate of 26% (Canada), $1,081,545 at a rate of 30% (Australia) and $1,244,013 at a rate of 25% (Indonesia). The Company also has accumulated resource and other pools of $3,986,281 at a tax rate of 26% (Canada). The Canadian non-capital losses expire commencing in 2015 through 2034; the Indonesian non-capital losses expire commencing in 2016 through 2019; and the Australian non-capital loss carryforwards may be carried forward indefinitely. The cumulative resource and other pools can be carried forward indefinitely.
 
eg June 2018
The significant components of the Company’s temporary differences, unused tax credits and included on the consolidated statement of financial position are as follows:
 
===


summary
 
2014
$10,482,537 non-capital losses
 $3,986,281 resource and other pools
$14,468,818 total tax credits
 
2015
$10,708,808 non-capital losses
 $3,986,281 resource and other pools
$14,695,089 total tax credits
 
2016
 $9,870,488 non-capital losses
 $4,165,636 resource and other pools
$14,036,124 total tax credits
 
2017
 $9,870,000 non-capital losses
 $5,149,000 resource and other pools
$15,136,000 total tax credits
 
2018
$13,075,000 non-capital losses
 $7,650,000 resource and other pools
$20,752,000 total tax credits
 
Comment by LeftBook on May 16, 2019 7:35am
  Flipping through some old notes for other ideas ...   ===   Moriarty notes the ANX discussions with management of RCG at doing a merger.  He refers to Dufferin, but not Tangier or Forest Hill. He does NOT refer to the tax credits or the balance sheet.   Interestingly he considers gold mines at $10 per ounce to be absurd [low]. Goldboro was valued at ...more  
Comment by LeftBook on May 17, 2019 1:49pm
  The tax credits story again.   Backing up further in time to see where we have come from. Hopefully it is useful to understanding the perspective of other shareholders.   The story is a tale of share dilution. Sometimes to the benefit of shareholders and sometimes not.   The shares also went through a 5:1 share consolidation in 2016.  Consolidation is ...more  
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