Tamino Minerals, Inc. Update on Financial Information regarding important Taxation Affairs
14.02.2019 | GlobeNewswire
MONTREAL, Feb. 14, 2019 - Tamino Minerals Inc. "Tamino" or the "Company" -OTC Markets: TINO- The Company has prepared a Preliminary Financial Report that shows that we have exactly the opposite to Debt or Convertible Notes. The Company has an accumulated deficit of close to $15 million USD. United States Taxation allows you to sell the loss to a more liquid business that would be willing to acquire the accumulated deficit to take advantage of the fact that they could reduce their taxable income. A buyer for the taxes has been secured and a date for the transaction will be published. The Sale Price of the Accumulated Deficit will be priced at a certain discount of the total, a 15% to 25% could be deducted depending on the negotiating skill of our tax advisors.
The Company is currently in talks with the most sophisticated tax advisors from big accounting firms. The Company has relied on advise from Ernst &; Young, KPMG Peat Marwick and Price Waterhouse Coopers.
An excessive buy back is definitely taking place. An important aspect to consider was brought to our attention regarding share price buybacks minimum and maximum levels. A large percentage that could range from 30% to 50% of the accumulated loss purchase price. This could mean a buy back of 2.5 million to $5 million USD in buy back power, no matter what is the share price at that moment.
NO DILUTION, NO CONVERTIBLE DEBT and a BUY BACK will commence right after payment is made.
Now that the company has expanded into Canada we have been mentioning to our shareholders and investors that we plan to list in the TSX-V Exchange.
TAMINO MINERALS, INC.
Tamino Minerals Inc. is exploring for high-grade gold deposits within a prolific gold producing geologic state, Sonora and has begin exploration of a couple in the Kenora Mining District in the Province of Ontario.
On behalf of the Board,
Pedro Villagran-Garcia, President &; CEO
Tamino Minerals Inc.
For further information, please contact the Company at 1-971-285-4570 or by email at info@taminominerals.ca
Forward Looking Statements
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.