alpha-Encorp announces Qualified Opportunity Zone Business Status
YONKERS, N.Y., Nov. 19, 2019 /PRNewswire/ -- alpha-Encorp (OTC: ALPE) announced today that is has determined that it meets the requirements to be a Qualified Opportunity Business ("QOZB") under the Federal Tax Cuts and Jobs Act of 2017 ("TCJA").
As a QOZB alpha-Encorp could potentially offer favorable tax treatment to investors in future placements of the company's securities, as specified in the TCJA.
alpha-Encorp's headquarters and laboratory facilities in Yonkers, New York, is located in an Opportunity Zone as certified by the US Treasury under the TCJA. After federal regulations specifying the requirements for QOZB status were released in April of 2019, alpha-Encorp engaged the services of CapZone Analytics,LLC, a firm that specializes in assessing Opportunity Zone investment eligibility. alpha-Encorp has determined that it meets the eligibility requirements under the TCJA to qualify as a QOZB.
It's QOZB status gives alpha-Encorp the ability to structure future capital raises so as to offer investors attractive potential tax benefits. Qualified investors in such capital raises could be eligible to defer tax on capital gains used to make an investment in alpha-Encorp, as well as potentially reduce or eliminate future capital gains tax on those investments. In addition alpha-Encorp continues to meet the requirements of a qualified small business stock ("QSBS") under the tax code section 1202 which also can give an investor significant capital gains tax benefits.
About alpha-Encorp
alpha-Encorp (OTC:ALPE) has developed a patented process for the production of pure lithium metal and associated products at room temperature. alpha-Encorp's electrodeposition method produces thin films of pure lithium on many different substrates. We believe that our lithium metal anodes will be an enabling technology for next generation batteries among other uses.
CONTACT: Thomas Suppanz, Managing Director of Finance, tsuppanz@alpha-encorp.com (914)418-200
About CapZone Analytics LLC
CapZone LLC Analytics provides business intelligence, analytics and compliance services that are configured to meet the evolving needs of Qualified Opportunity Zone investors, QOZB's, Government and Academic institutions and various intermediaries. CapZone Analytics LLC's subscription offerings help stakeholders quickly transform huge volumes of financial and community data into high-value information that improves investment performance and strengthens communities. Founded as a QOZB, Capzone Analytics serves global client from locations certified as Opportunity Zones by the US Treasure under the TCJA of 2017.
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SOURCE alpha-Encorp
