Nextleaf Solutions Ltd OILFF

Excise Duty

[GnarlyMunger]

Have they even been paying their Excise Duty? If they hadn't, and were building up a multi-million dollar liability to the Federal Government... wouldn't you at least expect a footnote?

[Dynaboy72]

Welcome back  stealthct

[stealthct]

what? lol. i come on here rarely. haven't posted in so long.  No i don't have another username.  What's excise duty?

[GnarlyMunger]

So what are all the payables? Why were they increasing between Dec 20 & Dec 22, when Revenues weren't even growing? Does the footnote (9) satisfactorily explain what the payables are? Why does the payables balance often increase by an amount very similar to the Excise Duty? Just sayin'

[Dynaboy72]

The new investor relations  info that came out yesterday  quoted that the company  was in good standing  with the  CRA too bad all other companies cannot say the same. 

[GnarlyMunger]

It doesn't say they are current on Excise Tax. It only talks about licences & documentation. CRA is not allowed to withold licences for unpaid Excise Tax. They have to put the Co on a payment plan and let them trade to clear it (which is difficult for a rapidly growing company, because they continue to accrue more than they clear). Vicious circle once you get behind. Even worse for extract