RE:RE:numbers look good to mecoocoology wrote: -Net income is positive, but seems light (can't tell you why)
11. Recovery of overpayment of withholding taxes]
The Company received confirmation in April 2017 from the Eritrean Ministry of Finance that BMSC had overpaid withholding taxes of $9,780 from the period of 2011 to 2016, related to BMSCs third party power contract. Withholding taxes are included in operating expenses and accordingly the entire $9,780 was recorded as a reduction of operating expenses during Q1 2017. The after-tax effect of this withholding tax recovery is a receivable of $6,064.
This explains the beat of $0.02.