Business News • MarketWire • Comstock Homebuilding Companies, Inc. Announces Adoption of Stockholder Rights Plan to Protect Value of Certain Deferred Tax Assets

Comstock Homebuilding Companies, Inc. Announces Adoption of Stockholder Rights Plan to Protect Value of Certain Deferred Tax Assets

Comstock Homebuilding Companies, Inc. Announces Adoption of Stockholder Rights Plan to Protect Value of Certain Deferred Tax Assets

RESTON, VA--(Marketwire - May 6, 2011) - Comstock Homebuilding Companies, Inc. (NASDAQ: CHCI) (www.comstockhomebuilding.com) ("Comstock") announced today that its Board of Directors adopted a Section 382 stockholder rights plan (the "Rights Plan") designed to protect stockholder value by preserving the value of certain of the Company's deferred tax assets primarily associated with net operating loss carryforwards ("NOLs") under Section 382 of the Internal Revenue Code. The Company currently has approximately $72 million in Federal and State NOLs that may offset future tax liabilities resulting from future taxable income. If unused, these NOLs will begin expiring in 2028. These assets are currently fully reserved in the Company's financial statements.

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