IMHO Wolf is reading some old news from a couple of 1/4 back..... My take on what it means,,,,is PTSC has had losses.. which on any FUTURE profits we would not be taxed on up to the loss amount ... this can be carried on your books as assests.. if you loose money too many 1/4 or events happen where you believe you cannot make money it is written as a loss which happened two or three 1/4's ago... the tax credit we still have...(we can use it when we the's payup in N Cali,),,,, best I can recall we have around 40-50 million,, so the first 40 or 50 million would be tax free profits.. the value is 40 million x the tax rate...