The U.S. tax rate's expected to be 35%, so the U.S. related deferred tax asset

will be $80,000 of NOL times 35% equals $28,000 of deferred tax assets.

That $28,000 represents the expected tax savings in the future

because what'll happen is the U.S. subsidiary will return a profitability.

The first $80,000 of profits in the U.S. will be offset by the NOL.

So we won't have to pay taxes on that 80,000,

which will save us $28,000 in taxes.

In Liechtenstein, the tax rate is expected to be 15%.

The Liechtenstein deferred tax asset then will be $150,000, which

is the amount of the NOL carryforwards times the 15% tax rate equals $22,500.

Again, the logic here is that the next $150,000 of

taxable income in Liechtenstein will be offset by these NOL carryforwards,

basically zeroed out, saving us $22,500 in taxes in the future.