BlackBerry Trying to Negotiate for a $1 Billion Tax Refund

BlackBerry is working on building up its cash stockpiles to smooth this transition of strategy. Bloomberg is reporting that the company is said to be asking for a larger refund from the Canadian government and asking the government to speed up the process. Last month they stated that they expected a $500 million rebate in the first half of fiscal 2015 and now they are supposedly aiming for a $1 billion refund by the end of the year.

BlackBerry is doing this by applying their recent losses against taxable income from previous years. Companies can carry loses up to 20 years forward and 3 years back. Either way this should give John Chen some more runway to stage a turnaround.