Veru Inc. Quarterly report pursuant to Section 13 or 15(d)

Income Taxes (Tables)

3 Months Ended

Dec. 31, 2016



	Three Months Ended
	December 31,
	2016		2015
Income tax (benefit) expense at statutory rates	$	(645,000)	$	789,000
State income tax (benefit) expense, net of federal benefits		(96,000)		119,000
Non-deductible business acquisition expenses		111,000		—
Non-deductible expenses - other		1,000		2,000
Effect of AMT expense		—		30,000
Effect of lower foreign income tax rates		81,736		(107,125)
Other		17,195		(3,422)
Income tax (benefit) expense	$	(530,069)	$	829,453



	December 31,		September 30,
Deferred Tax Assets	2016		2016
Federal net operating loss carryforwards	$	4,434,601	$	2,756,000
State net operating loss carryforwards		441,728		400,000
AMT credit carryforward		489,000		489,000
Foreign net operating loss carryforwards – U.K.		11,058,764		10,955,000
Foreign capital allowance – U.K.		112,000		112,000
Other, net - Malaysia		9,850		9,850
Restricted stock – U.K.		1,000		1,000
Share-based compensation		51,304		101,000
Warrants		212,367		—
Deemed dividend - Malaysia		942,000		942,000
Other, net - U.S.		(21,800)		25,000
Gross deferred tax assets		17,730,814		15,790,850
Valuation allowance for deferred tax assets		(2,299,000)		(2,299,000)
Net deferred tax assets		15,431,814		13,491,850
Deferred Tax Liabilities:
Intangible assets		(8,157,200)		—
Foreign capital allowance – Malaysia		(111,110)		(119,919)
Gross deferred tax liabilities		(8,268,310)		(119,919)
Net deferred tax assets	$	7,163,504	$	13,371,931



	December 31,		September 30,
	2016		2015
Long term deferred assets	$	8,872,764	$	13,482,000
Long term deferred liabilities		(1,709,260)		(110,069)
Total	$	7,163,504	$	13,371,931