Component: (Network and Table) | |
---|---|
Network | 046 - Disclosure - INCOME TAXES (Details 2) (http://www.absolutels.com/role/INCOMETAXESDetails2) |
Table | Statement [Table] |
Reporting Entity [Axis] | 0001421538 (http://www.sec.gov/CIK) |
Statement [Line Items] | Period [Axis] | |
---|---|---|
2012-08-31 | 2011-08-31 | |
Deferred tax assets: | ||
Equipment | 6,648 | 2,579 |
Provider fees | 51,750 | 0 |
Premiums paid | 8,355,876 | 3,599,077 |
Capitalized interest expense | 10,911 | 0 |
Deferred rent | 22,201 | 0 |
Stock issuances to officers, directors and consultant | 103,950 | 358,007 |
Start-up expenses | 64,689 | 0 |
Net operating loss carryforward | 1,096,256 | 0 |
Gross deferred tax assets | 9,712,281 | 3,959,663 |
Valuation allowance | (438,254) | 0 |
Net deferred tax assets | 9,274,027 | 3,959,663 |
Deferred tax liabilities: | ||
Prepaid insurance | (6,836) | 0 |
Unrealized gains on life settlement contracts | (13,510,235) | (25,030,823) |
Net deferred tax liabilities | (13,517,071) | (25,030,823) |
Total deferred tax liabilities, net | (4,243,044) | (21,071,160) |
Summary of net deferred tax liabilities: | ||
Current | 0 | 0 |
Non-current | 4,243,044 | 21,071,160 |
Total deferred tax liabilities, net | (4,243,044) | (21,071,160) |