Post by
HHAPPY on Apr 18, 2014 1:04pm
10Q for TRGD posted. Shareholders should read and TARM 10Q!
From TARM filing 10K [Which is relevant to TRGD>
"Tax Matters related to the Company’s Parent Company Tara Gold:
Corporacion Amermin S.A. de C.V. (“Amermin”) is a sister company to Tara Minerals through common ownership of the Company parent, Tara Gold. Amermin’s 2007 tax return has been audited by the Mexican government, with their corresponding report dated January 13, 2011. An appeal to this report was filed March 10, 2011, but in conjunction with the sale of ACM in 2012, the Company paid the related lien and is taking action necessary towards seeking a refund from the Mexico tax authorities. The Company remains confident of a successful outcome of the refund as Amermin’s records indicate that, at the time of notification, all applicable taxes due from Amermin had been paid and the ownership of the Picacho Groupings had been renegotiated to ACM with all related taxes payable by ACM having been paid.
As of December 31, 2013, Tara Gold owed the Company a total of $111,782 at 0% interest, due on demand. During the year ended December 31, 2013, Tara Gold made a payment in the amount of $995,976 to the Company for amounts previously borrowed.
As of the the filing "allowance for doubtful accounts related to IVA decreased as a result of recoveries of IVA in the amount of $40,489 subsequent to year end with an estimated $900,000.00 possibly still recoverable from the Mexican Government