Stamps.com provides details regarding recent net operating loss study

Stamps.com have provided details regarding the outcome of a study it undertook to understand the status of its net operating losses (NOLs). Based on that study, the company believes that it has not undergone an Internal Revenue Code Section 382 change of control that would trigger an impairment of the use of its NOLs since its secondary offering in December 1999.

Under the complicated Section 382 rules, a change in ownership can occur whenever there is a shift in ownership by more than 50 percentage points by one or more five-percent shareholders within a three-year period. When a change of ownership is triggered, the NOLs may be impaired. Stamps.com estimates that it is currently 12% below the 50% level that would trigger impairment of its NOL asset. Therefore, Stamps.com is requesting that all of its investors contact the company prior to allowing their ownership interest to reach a five-percent level.