I'll punt and wait for Bob or Peter to arrive. I did find this, but I can't find a web-based translator for it. I stuck it into this translator, but the language wasn't recognized......
world.altavista.com
Deferred tax assets of approximately $19,582,000 and $7,204,000 at
December 31, 1998 and 1997, respectively, relate principally to tax net
operating loss carryforwards of $21,459,000 and $13,933,000 and research
credit carryforwards of $2,111,000 and $1,212,000 at December 31, 1998
and 1997, respectively and also to the current litigation reserve
pending of $18.5 million. An offsetting valuation allowance has been
established for the full amount of the deferred tax assets to reduce such
assets to zero, as a result of the significant uncertainty regarding
their ultimate realization. The aggregate valuation allowance increased
$12,378,000 and $3,417,000 during the periods ended December 31, 1998 and
1997, respectively. |
