Company: NTCS
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001683168-25-004268
Chunk: 310

Company: Natics Corp.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 9B
Chunk 310
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. Current year expense represents the amount of income taxes paid, payable or refundable for the period.

Deferred income taxes, net of appropriate valuation
allowances, are determined using the tax rates expected to be in effect when the taxes are actually paid. Valuation allowances are recorded
against deferred tax assets when it is more likely than not that such assets will not be realized. When an uncertain tax position meets
the more likely than not recognition threshold, the position is measured to determine the amount of benefit or expense to recognize in
the financial statements.

The Company’s income tax returns are subject
to review and examination by federal, state and local governmental authorities. As of April 30, 2025, our April 30, 2024 tax return was
open to examination with federal, state and local governmental authorities. To the extent penalties and interest are incurred through
an examination, they would be included as part of operations in the statement of operations.

Long-Lived Assets – Intangible Assets

We account for our intangible assets in accordance
with ASC Subtopic 350-30, General Intangibles Other Than Goodwill, and ASC Subtopic 360-10-05, Accounting for the Impairment or Disposal
of Long-Lived Assets. ASC Subtopic 350-30 requires assets to be measured based on the fair value of the consideration given or the fair
value of the assets (or net assets) acquired, whichever is more clearly evident and, thus, more reliably measurable. Further, ASC Subtopic
350-30 requires an intangible asset to be amortized over its useful life and for the useful life to be evaluated every reporting period
to determine whether events or circumstances warrant a revision to the remaining period of amortization. If the estimate of useful life
is changed the remaining carrying amount of the intangible asset is amortized prospectively over the revised remaining useful life. Costs
of internally developing, maintaining, or restoring intangible assets are recognized as an expense when incurred.

     F-9 

Basic Income (Loss) Per Share

The Company computes income (loss) per share in
accordance with FASB ASC 260 “Earnings per Share”. Basic loss per share is computed by dividing net income (loss) available
to common shareholders by the weighted average number of outstanding common shares during the period. Diluted income (loss) per share
gives effect to all dilutive potential common shares outstanding during the period. Dilutive loss per share excludes all