RE:RE:RE:RE:CEO Compensation RecapHello Doug,
Thanks for the posting. On your tax benefit point, we know that Verde has about $26 million in tax loss carry forward credits from the days when it burned through its original capital in its first itteration as a Brazil focused gold/diamond explorer. While these "Tax Assets" have real value when they are used to offset corporate taxes otherwise payable in a profitable year, they have yet to be recognized in Verde's current financial statements. This is because the GAAP requirement that a Company must past the "certainty" test that future taxable profits are likely and of sufficient magnitude to use the credits has not been met.
That being said, the progress made this year, especially with the anticipated Q3 results and the expectations for the Company going forward, I believe the GAAP requirements are now met. This should allow the auditors to accept the recognition of the tax loss carry forward amounts (lets say 15% on $26 million or around $4 million) to be added as a deferred tax asset in the 2021 financial statements.
Whether or not this reasonable accounting protocol is adopted, it looks like Verde can begin to start monitizing those unrecognized tax losses in offsetting the tax liability from operational profits this year.
Cheers,
S.