SCOTTSDALE, Ariz., June 21, 2013 (GLOBE NEWSWIRE) -- iGO, Inc. (Nasdaq:IGOI) (the "Company") announced today that it has amended and restated its stockholder rights agreement, which was originally entered on June 11, 2003 and was set to expire on June 23, 2013, to establish a tax benefits protection plan for the preservation of the Company's net operating losses and other similar tax attributes ("NOLs") from substantial limitations contained in Section 382 of the Internal Revenue Code ("IRC"). IRC Section 382 limits the amount of NOLs that can be used in any one year following an "ownership change," as defined under Section 382. In general, an "ownership change" occurs where there is a greater than 50-percentage point change within a rolling three-year period in the ownership of a company's stock by stockholders owning (or deemed to own under section 382), directly or indirectly, 5% or more of such company's stock.
IGO, Inc. Adopts Tax Benefits Protection Plan
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