NEW YORK (GenomeWeb News) – Pressure BioSciences today said that it expects to file for a refund of taxes paid for the 2004 calendar year, which would provide the company with $623,000 in the first quarter of 2009.

The South Easton, Mass.-based firm said that under the recently enacted American Recovery and Reinvestment Act, small businesses are eligible to claim the five-year carry back of 2008 net operating losses. Pressure Bio said that it expects to for the refund within the next 90 days.

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