writser Posted November 15, 2020 Share Posted November 15, 2020 FYI, article on oddball stocks regarding payment as being direct w/o tranfer agent and possible need for those holding shares in retirement fund to contact for instructions. Yeah. I would urge everybody who rather wants a sane distribution process, through your broker, rather than a cheque or a wire, to contact mr. Gettler at: Fax: (513) 241-8199 Phone: (212) 935-0884 Link to comment Share on other sites More sharing options...
wabuffo Posted December 3, 2020 Share Posted December 3, 2020 VULC distributing $152.45 per share in cash on Dec. 10th (x-date is Dec. 11th). It's officially on the OTC Daily List today. https://otce.finra.org/otce/dailyList wabuffo Link to comment Share on other sites More sharing options...
mjm Posted December 18, 2020 Share Posted December 18, 2020 does anyone know the tax ramifications on the distribution? will it be considered a dividend or capital gain for tax purposes? TIA Link to comment Share on other sites More sharing options...
maude Posted December 21, 2020 Share Posted December 21, 2020 It is almost certainly treated as a liquidating distribution for tax purposes. This would be the case if the company has adopted a plan of dissolution and liquidation (which they said they have). That means the proceeds of the distribution go towards your tax basis in the stock (your cost basis), and any excess is a capital gain for tax purposes. Any additional distributions will then be pure capital gain (assuming your cost basis is lower than the amount of the distribution they just paid). Link to comment Share on other sites More sharing options...
NeverLoseMoney Posted January 4, 2021 Share Posted January 4, 2021 How did the company pay the distribution? Did they send a cheque, or did they end up using a transfer agent after all? Link to comment Share on other sites More sharing options...
writser Posted January 4, 2021 Share Posted January 4, 2021 Transfer agent. You can see it on the daily list. The whole thing was a big shit show, I racked up quite the overseas phone bill, some people of FINRA stepped in, but everything turned out fine in the end. Link to comment Share on other sites More sharing options...
fishwithwings Posted January 10, 2021 Share Posted January 10, 2021 Anyone know the IRR for this trade? Link to comment Share on other sites More sharing options...
Hielko Posted January 10, 2021 Share Posted January 10, 2021 Transfer agent. You can see it on the daily list. The whole thing was a big shit show, I racked up quite the overseas phone bill, some people of FINRA stepped in, but everything turned out fine in the end. I usually use Skype for this kind of thing, costs you a few cents/minute (and is free if you call to toll free numbers). Link to comment Share on other sites More sharing options...
writser Posted January 10, 2021 Share Posted January 10, 2021 Anyone know the IRR for this trade? What trade? Link to comment Share on other sites More sharing options...
maude Posted January 11, 2021 Share Posted January 11, 2021 Does anybody have any information about what assets are left in the company now that they have paid the large distribution? Did anybody see a letter or anything from the company? Link to comment Share on other sites More sharing options...
writser Posted January 11, 2021 Share Posted January 11, 2021 I think a bit of cash and the Cincinnati club asset. No information has been disseminated about the remaining assets / expected proceeds, as far as I know. Link to comment Share on other sites More sharing options...
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