Concurrent (CCUR +4.6%) is "exploring strategic alternatives to maximize shareholder value." Needham has been hired to advise.
In tandem, the company has adopted a tax asset preservation plan meant to preserve $89.9M in net operating loss carryforwards and "additional tax attributes" such as state NOL carryforwards.
CEO Derek Elder: "[O]ur net operating loss carryforwards represent a substantial asset of our company and the Board believes that the preservation of these assets to offset future tax liabilities that may occur as a result of our strategic alternatives review is in the best interest of stockholders. Taking the steps announced today is a prudent step specifically tailored to protect our tax attributes until stockholders have the chance to decide at this year's annual meeting whether or not they would like to adopt structural reforms to preserve the value of these assets going forward."