I heard the tax office vigorously tries to stop the use of tax losses under the "same business" test. ie losses being claimed by another party.
'They are as strict as can be in identifying the business that gave rise to the losses. CMY losses arose under various activities and thus difficult to value for someone else. The tax losses are of value under the "continuing ownership" test. But that won't apply because the incoming new owners are most likely to be new shareholders.
I would place a zero value on the tax losses.
CMY Price at posting:
0.5¢ Sentiment: None Disclosure: Held
