 The New Home Company Inc. NYSE: NWHM the Company announced today that its Board of Directors the Board has adopted a tax benefit preservation plan the Plan to help preserve the value of its net operating losses and other tax attributes. As of March 31, 2020, the Company had approximately 85.7 million of gross deferred tax assets, which are valued on a tax-effected basis at approximately 16.6 million. The Companys gross deferred tax assets consist of tax attributes including at least 42.7 million of cumulative state net operating losses, 3.0 million of energy tax credits, and 25.8 million of basis differences in joint venture investments and inventories that may be carried forward and can be utilized in certain circumstances to reduce future taxable income. While we believe a portion of the deferred tax assets may be eligible to be carried back to offset U.S. federal income taxes due to the tax law changes arising from the Coronavirus Aid, Relief, and Economic Security CARES Act, our ability to carry back such net operating losses is dependent on several factors, including the timing of when such tax assets become deductible. 