How Much Will We Get., page-10

Are they not accumulated tax losses in the states to the tune of USD$78M ?

No they are not USA accumulated losses. They are accumulated losses of the parent company.
I had a very quick look, and there may be around usd$10m in the USA, but could be closer to $0.
Most of the losses relate to Otto's pre-USA follies, of which there were many, and where Otto no longer has any interest to utilise these losses.

However, all is not lost.
Based on the time that it is taking, individual assets sales are probably the most likely outcome.
Each asset is held in a corporate entity, and can be sold separately, realising a capital gains for Otto in Australia.

A quick back of the envelop calculation, that may be out by a fair amount, is that if we get around $0.035 / share, i.e., asset sales are around $0.025 plus $0.01 cash in the bank, would use most of the usd$88m accumulated losses.

Hence my previous comment that "we can always dream that we use all the tax losses and have to pay some tax.

Now I should add that tax is not my field of expertise, but I have managed to acquire a reasonable base knowledge over the years.