There has to be a way to reorganize OXO to transfer its
patents and facilites to DMX and sell the Tax loss pool
for some cash.
8. Tax loss carry forward
As of December 31, 2001 the Company has net operating
losses of CHF 50,665,031
(USD 31,082,841) calculate on the Swiss tax base, which
can be used to reduce future years’ taxable income.
These losses expire, if unused, as follows:
(translated at the year end spot rate of exchange of USD 1 = CHF 1.63)
Year CHF USD
2003 3,355,163 2,058,382
2004 6,168,851 3,784,571
2005 9,955,787 6,107,845
2006 12,106,310 7,427,184
2007 12,246,744 7,513,340
2008 6,832,176 4,191,519
50,665,031 31,082,841
The potential tax benefits relating to these losses have
not been recognized in the financial statements. |
