Initial Letter Date |
Form filed |
Market Capitalization |
05/03/2012 |
S-1 |
$ 1,730 M |
We note your statement that you expect to maintain a full valuation allowance on your net deferred income tax assets until you sustain an appropriate level of profitability that generates taxable income that would enable you to conclude that it is more likely than not that a portion of your deferred income tax assets will be realized, However, per the table on page [xx] you have a valuation allowance of only approximately $[xx]million and net deferred income tax assets of approximate $[xx]million. Please advise. |