The computer company registered a $16 million net loss for the year, largely because it was profitable only overseas, where much of their profits were used for paying higher taxes, while continuing to lose money in North America.
where much of their profits were used for paying higher taxes, while continuing
where much of their profits went to pay higher taxes, as they continued
where much of its profit went to pay higher taxes, while it continued
with much of their profits going to pay higher taxes, while continuing
with much of the profit used for paying higher taxes, as it continued
the usage of with should modify the preceding parts, offering some extra information.
But the usage does not make sense, because the non-underlined part talks about losses, and the with part talks about the usage of profit. ( it shouldn't serve as a modifier to the non-underlined part since there is no logical relationship there)
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