42 days since the NT 10-Q filing. | NWBO Message Board Posts

Northwest Biotherapeutics Inc.

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Msg  13984 of 13994  at  6/24/2020 2:59:34 PM  by

Hodag


 In response to msg 13983 by  JerryC
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Re: 42 days since the NT 10-Q filing.

To most companies $800K is a nit, but given that the total assets shown in the 10-Q are just $9,183 then $800 rises to the level of materiality.  Generally under GAAP, once an amount is larger than 5% of total assets or total income it cannot be regarded as immaterial.
 
There are a number of ways the Germans can come up with a liability for a deemed profit distribution, especially for a heavily subsidized operation that ceased to exist and never itself made any money.  Since this issue relates to intercompany accounting, everything except the tax liability will be lost in the accounting consolidation but the tax payments are real while accounting entries are not.


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