Posted On: 10/13/2016 8:24:35 AM
Post# of 539
Warren Sheppard stated that Paradise Gardens assets, including tractors, logging equipment and timber processing equipment, will be utilized in the Company’s logging and processing at Rigo.
The sworn value of the Paradise Garden assets on the balance sheet of Paradise Gardens as audited and prepared by International Accounting firm BDO was PGK 1,481,891 (USD$ 489,072), and after depreciation a holding value of PGK 876,088 (USD$ 289,137).
Paradise Gardens has significant carry forward income tax loss in Papua New Guinea as per the financial statements prepared by BDO (PGK 3,479,985 at 30% tax rate = PGK1,043,995 (USD $344,552).
The sworn value of the Paradise Garden assets on the balance sheet of Paradise Gardens as audited and prepared by International Accounting firm BDO was PGK 1,481,891 (USD$ 489,072), and after depreciation a holding value of PGK 876,088 (USD$ 289,137).
Paradise Gardens has significant carry forward income tax loss in Papua New Guinea as per the financial statements prepared by BDO (PGK 3,479,985 at 30% tax rate = PGK1,043,995 (USD $344,552).
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