AKITA Drilling Ltd T.AKT.A

Income tax assets greater than the value of the SP

[lifeisgood1010]

Hi albertan33

I'ts on page 19 of the 2022 annual report.

Hope this help

Here it is

 A net deferred

tax asset has not been recognized for $76 million (2021 – $69 million). This amount is primarily related to non-capital losses carried

forward.

Total gross tax losses available to the Company are $434,694,000 with $398,191,000 in the US and $36,503,000 in Canada. The

first of these losses will begin to expire in 2031.

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This tax assets is off balance and not recognized so far in Akita's results but it is real.

It equats to $1.91 / share and the stock trade
at $1.50

Go figure.

Later today, i will do a last write up on Akita since i have said most of what i think on them.

Sorry for all the spelling mistakes i am french and do my best

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In yesterday's Precision Drilling Q4 results, PD did recognized their tax asset.
This tax assets boosted PD results by about $4.81 / share.

This is PD tax recognition of their tax assets

• an income tax recovery of $69 million, as we recognized a deferred income tax asset of $73 million related to the expected future use of certain Canadian operating losses.

 

[albertan33]

Thank you very much!  My own DD sure shows that liquidation value of this company is a lot more than current market cap. Seems like quite a good Margin of Safety investing at these prices. Only thing I find confusing is the share structure, I get the voting vs non-voting shares, but the BOD sure seems to be related to ATCO Not sure who is trying to unload the lump of shares but when I

[Hockeyz]

So if a large US Drilling company bought Akita, the US driller would save the first $76 million that they owe in taxes?  Which would be worth $76 million in cash to the US purchaser.  And that is not even included as an asset on Akita's balance sheet/financial statements? Is that correct?