Akers Biosciences sells tax losses as part of New Jersey incentive programme
Wednesday, December 03, 2008
Akers Biosciences, the AIM listed medical group that makes diagnostic screening and testing products, has sold certain historic tax losses under an incentive programme operated in the US state of New Jersey, for a net cash sum of US$0.7 million.
New Jersey's “Technology Business Tax Certificate Transfer Program” allows new and expanding technology companies to turn tax losses and credits into cash. Akers was able to sell unused net operating losses to other corporate taxpayers in New Jersey at a discounted value and still retain the federal tax losses to exploit, to its benefit, in the future.
Thomas Nicolette, Akers’ chief executive, explained: “We are very pleased to benefit from the programme operated by the state of New Jersey which has allowed ABI to add a further $700,000 to cash resources which currently stand at over US$5 million.”
Nicolette said the company was in an enviable position of being operationally profitable, debt free and with strong cash resources.
|
Relevant Companies
For more Company information and share price data click below:
Headlines
» Earthport signs £2m partnership agreement in the Middle East
Wednesday, January 07, 2009
» Sport Media in talks over financing after breaching bank covenant
Wednesday, January 07, 2009
» Clean Diesel Technologies licenses ARIS technology to Eaton
Wednesday, January 07, 2009
» Blacks Leisure suffers as boardwear business takes a tumble
Wednesday, January 07, 2009
» Alexon confident as new management focuses on brand and product design
Wednesday, January 07, 2009
» Advanced Power Components agrees licensing deal KVAR
Wednesday, January 07, 2009
» BATM Advanced set to deliver steady full-year performance
Wednesday, January 07, 2009
» Sigma Capital upbeat on figures and welcomes new Limited Partners
Wednesday, January 07, 2009
» Renewable Energy Generation agrees new debt deal
Wednesday, January 07, 2009
» Fishworks shares suspended amid dire trading conditions
Wednesday, January 07, 2009
» SkyePharma celebrates as Lodotra gets European green light
Wednesday, January 07, 2009
» RM’s Computrac division wins major classroom technology contract
Wednesday, January 07, 2009
» Blue Oar and Evolve Capital still scrapping it out
Tuesday, January 06, 2009
» Nighthawk Energy says Jolly Ranch viable at $25 per barrel and could go lower
Tuesday, January 06, 2009
» Horizontal well on Breagh successfully drilled
Tuesday, January 06, 2009
» Sandvine picks up six new international customers
Tuesday, January 06, 2009
» See all News
Features
» Bulls and bears: Southern Bear plc
Friday, December 19, 2008
» Got milk: National Milk Records plc
Friday, December 12, 2008
» Interview with John Pierce, Chief Executive of the Quoted Companies Alliance
Friday, December 05, 2008
» Acquisition trail: Intellego Holdings plc
Friday, November 28, 2008
» Speech recognition: Eckoh plc
Friday, November 21, 2008
» Hunting for oil: GETECH Group plc
Friday, November 14, 2008
» Mobile marketing: HipCricket Inc
Friday, November 07, 2008
» Market maker: GoIndustry-Dovebid plc
Friday, October 31, 2008
» Breathe easy: Verona Pharma plc
Friday, October 24, 2008
» Well connected: Nexus Management plc
Friday, October 17, 2008
» Fine form: Formjet plc
Friday, October 10, 2008
» Interview with Jim Hannon, Hannon Westwood
Friday, October 03, 2008
» Interview with Tim Feather, Hanson Westhouse
Thursday, September 25, 2008
» Interview with Mark Fahy, London Stock Exchange
Tuesday, September 16, 2008
» Healthy return: Source BioScience plc
Friday, September 12, 2008
» Business broker: St Helen’s Capital plc
Friday, September 05, 2008
» See all Features
Most Read
» Nighthawk Energy says Jolly Ranch viable at $25 per barrel and could go lower
Tuesday, January 06, 2009
» Fishworks shares suspended amid dire trading conditions
Wednesday, January 07, 2009
» SkyePharma celebrates as Lodotra gets European green light
Wednesday, January 07, 2009
» Renewable Energy Generation agrees new debt deal
Wednesday, January 07, 2009
» Blue Oar and Evolve Capital still scrapping it out
Tuesday, January 06, 2009
» Braveheart leads follow on investment in Tayside Flow Technologies
Tuesday, January 06, 2009
» E2V Technologies secures major contract renewals
Tuesday, January 06, 2009
» Mwana says BHP Billiton to withdraw from DRC diamond deals
Tuesday, December 02, 2008
» Helius Energy: generating power from biomass
Monday, January 05, 2009
» Metalrax continues restructuring programme with two more closures
Tuesday, January 06, 2009
» Sport Media in talks over financing after breaching bank covenant
Wednesday, January 07, 2009
» Proteome Sciences agrees licence agreement for lung cancer patents
Tuesday, January 06, 2009
» Economic slowdown: threats and opportunities for the wind industry
Tuesday, December 30, 2008
» RM’s Computrac division wins major classroom technology contract
Wednesday, January 07, 2009
» Clean Diesel Technologies licenses ARIS technology to Eaton
Wednesday, January 07, 2009
» Sigma Capital upbeat on figures and welcomes new Limited Partners
Wednesday, January 07, 2009
Profiles
» Helius Energy: generating power from biomass
Monday, January 05, 2009
» Will AIM move forward on green?
Friday, January 02, 2009
» Big ideas for small caps - cleantech is still a fast growing investment theme
Tuesday, December 30, 2008
» Positive flow: Hydrodec plc
Tuesday, December 30, 2008
» Diesel power: China Biodiesel plc
Tuesday, December 30, 2008
» Waste deep: Bioganix plc
Tuesday, December 30, 2008
» Government moves to promote the UK renewable energy industry
Tuesday, December 30, 2008
» The future for renewable energy
Tuesday, December 30, 2008
» Economic slowdown: threats and opportunities for the wind industry
Tuesday, December 30, 2008
» Analyst briefing…
Monday, December 08, 2008
» Short term AIMs for software and IT companies and their route through recession
Wednesday, November 19, 2008
» An introduction to Bango
Monday, November 10, 2008
» Delivering security when budgets are tight
Thursday, November 06, 2008
» So what are you going to do in 2009?
Monday, November 03, 2008
» Well connected: Nexus Management plc
Sunday, November 02, 2008
» Fine form: Formjet plc
Sunday, November 02, 2008
|