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Currently in the DWAC process at this time. If anyone out there has been waiting you need to stay on top of it. Don't expect your broker to know about the DWAC process. If there is a delay it may be on your broker's side. What should have taken one agent and two working days, ended up taking three agents and two weeks at Charles Schwab before my shares were released and posted for the Transfer Agent. Now waiting for the reimbursement from Lans. Will keep you all posted.
Since you started the DocuSign process before the buyback program closed on Sunday, March 31, 2024, you should be perfectly fine.
It does take a long time to go through all the steps in the buyback process. The current turnaround time is way slower than what the first group of people experienced. It took the buyback program around 6 months to move me forward from Step 1 of DocuSign to Step 2 of DocuSign.
My three answers as to why it takes so long:
1. each step in the buyback has a different team. Each team/vendor seems to have its own process and timeline.
2. the buyback requires verification of legal and compliance issues.
3. there was a backlog when I went through the process. The first group didn’t have a backlog in front of them. There might still be a backlog in front of you.
In the meantime, while you wait to hear from the LAHO buyback program, you may want to consider identifying which bank in your area you will use to obtain the Medallion Signature Guarantee stamp. Some banks don’t have the medallion stamp service while others have restrictions on who can use the medallion stamp service. For some of the larger US banks, there may only be one person at a specific location who stamps all types of documents for multiple locations. There were many posts from people who ran into problems getting the Medallion Signature Guarantee stamp.
I haven’t even tried - tired of getting scammed. But apparently this actually works? Little more confirmation I’ll give it a shot
It took me 2 months, but I did get the money. Still blows me away that they did this. I have lost my fair share of bad investments, but not a one has EVER made good on it...
Any idea why it’s taking so long? I submitted mine a few months ago. I emailed lahostockbuyback@gmail.com and asked if they needed anything else from me. Docusign confirmed that it was delivered and now it’s just waiting for Peter Lundberg.
Give the TDA / Schwab representative the LANS Holdings CUSIP number. A CUSIP number is a unique identifier assigned to financial securities such as stocks, bonds, options, and mutual funds. It serves as a standardized way to identify individual securities, making it easier for traders, investors, and regulators to track and trade them. The LANS Holdings CUSIP number is located on the DWAC form from V-Stock. You submitted a copy of this form to surrender your shares. Once you give the representative the CUSIP number, TDA / Schwab should be able to find your historical purchase price and historical shares owned that you are unable to locate.
Also, were your LANS buyback proceeds wired to your TDA / Schwab brokerage account or were the LANS buyback proceeds wired to a different financial institution such as a bank account outside of your TDA / Schwab brokerage account?
Let us know the outcome of your trip to the IRS.
Thanks! And that is the problem for me. I have always relied on my TDA account for tax information. I was not able to get a think from TDA.
I plan a trip to IRS Office, Austin, TX for assistance (trip 5/24/2024). Hope I will be able to get some help ther
I did not get a 1099. For me, I figured it was a settlement. My tax preparer took care of my taxes. Had a long term capital gain on some and some purchases I had a loss. This was a few years ago. If it is your money, do not wait to let it go unclaimed or worry, about filing your taxes. Just get all your paperwork together and go to someone who can file your taxes correctly. Not a big deal. Just have your original buys, their costs and how many shares you had when LAHO was suspended. imho
The LAHO share buyback is still active. The repurchase is to be made through "The Return Treasury Agreement" buyback program.
https://www.lans.holdings/
After accessing the Lans Holdings website, scroll down to the middle of the webpage. Click on the shareholder notice (“Return to Treasury Program” pdf) and then click on the Return to Treasury Program link in the notice to start the DocuSign process.
The first step requires submitting proof of ownership. People have been submitting monthly statements and other forms of proof. I requested a letter of stock ownership showing proof of ownership for each account that contained LAHO shares from my broker. For many reasons, I could not release my brokerage statements to demonstrate proof of LAHO ownership. I needed to submit alternative documentation.
I meant charles schwab.
thank you for the reply todd-m I called Shawn and they said they did not see a buyback program. could you tell me where to find the paperwork.? thank you.
I would say it is not a scam. I completed the LAHO buyback process. The buyback process is extremely slow. After submitting my paper work, it took more than 1 year for me to receive the proceeds.
Posts on the LAHO discussion board and the MSSV discussion board both indicated that it took 3 months to 5 months for the first group of LAHO stockholders to finish the whole entire buyback process. In 2022 and 2023, people are having a completely different experience. It seems to take multiple months for the paper work to be moved from one step to the next step.
Where are you in the buyback process?
The answer to your question is both yes and no to receiving 100% of my original investment. I had LAHO shares in multiple accounts. For each account, the shares were purchased at different points in time and at different prices. I submitted the buyback paper work for multiple accounts.
According to posts, LAHO will remain private and will not regain its publicly trading status.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168629986&txt2find=return
The buyback program closes this month on Sunday, March 31, 2024. If you have not turned in your paper work yet, definitely submit your buyback paper work before the program closes. The buyback price per share is $0.002 less fees.
Did you find a solution to your 1099 problem? I believe I have a potential solution. Let me know if you still need feedback or suggestions to your 1099 problem.
Still waiting for mine. Not sure if it's a scam or not. Sent in paperwork months ago. No word back. Fingers crossed.
I made good money, but that's because I was buying early on below the $.002 PPS...
did you recieve 100% of your original investment.? thanks
did you recieve 100% of your original investment.?
Me too, same as you
Hello SoGozHer,
For the proceeds of the buyback to appear on your annual brokerage account statement, did you have the buyback funds wired to your e-trade account or wired to your bank account?
Thanks for reminding me. More than 1 year has passed and I haven’t received my payment yet.
I do remember people posting about not receiving the 1099. The posts I could find on the MSSV board indicated that people did not receive a Form 1099 after receiving the buyback payment.
One post stated “Has anyone gotten their LAHO IRS 1099 yet?”
The response was “I gave my accountant all the transactions, had to figure out my own cost basis, thank god I’m pedantic about even share lots, and didn’t have a ton of different buys(only about 10)....."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171069609
Did you all see the website announced an end to this program? My friend sent this to me from lans.holdings "Last call March 31"
I was told no 1099 needed as your stock broker firm either gave you the tax write off or the buy back, since they authorized the stock buyback, your annual account statement should have that. Mine did. I have eTrade.
todd and/or others. Has anyone received a 1099 or other for the moneys paid on the surrender of the shares? I haven't nor have I filed my tax return for 2022.
Appreciate any feed back on this. I have looked on TDA for LAHO data on how much I paid for the 58M shares that I held but find nothing. I know that I received over 92K for my shares.
Basspro8998, The website for the buyback program is:
https://www.lans.holdings/
After accessing the Lans Holdings website, scroll down to the middle of the webpage. Click on the shareholder notice (“Return to Treasury Program” pdf) and then click on the Return to Treasury Program link in the notice to start the DocuSign process.
It is an extremely slow process.
Hey Todd-m! do you have the website for the buyback program? looking to start after years of them not helping me out!
I’m at the beginning of Step 4. Hopefully, I will complete the LAHO Buyback this year. I agree that a check is better than a write off.
I’m at the beginning of Step 4. Hopefully, I will complete the LAHO Buyback this year. I agree that a check is better than a write off.
I got a nice check from this, even after fees... Way better than a write off, but my pps purchase price was long before the delist. The fact that they even did a buy back still blows my mind. Have lost plenty on other defunct in the OTC. 1st one I've ever heard that made good on it...
so how did this work out for you?
No problem. I thought you had a different set of reasons for considering taking the 100% tax-write off instead of doing the buyback.
Excluding the first group of people who followed the company’s every move and found out about the buyback program right away, I think everyone was waiting for LAHO to trade again and everyone is in the same boat.
I did not follow nor check the discussion board for years on the outcome of Lans Holdings’ plan to relist its LAHO shares. I found out about the buyback program around the middle of 2022 when the LAHO website was disabled and I couldn’t get access to required documents.
A lot of people helped me out. So, I don’t have a problem helping others out. I am kind of shocked that there has been a steady flow of people starting the buyback process since mid-2022.
thank you again todd-m for your reply. well when this fiasco started i was under the impression our laho shares were automatically going to be converted to messo shares and kept waiting, and when it didn't happen i guess i was hoping laho would some how recover from this situation. and then finally after all this time i just flat out got lazy to ths situation. yes it is my fault waiting so long now i'm just trying to figure out what i want to do with it that's all. i think laho should have taken care of the process for all their investors or in the very least send all shareholders a 1-2-3 instruction procedure. we shoudn't have to do the work laho should.
Tax-write off vs. cash from the buyback, that is a tough question.
Since I haven’t completed the full buyback process yet, I can’t confirm the fees. But...
Share Owned X Buyback Price Per Share = Buyback Proceeds Before Fees
1,100,000 X $0.002 = $2,200 before the $150 to $250 in approximate fees
If your buyback proceeds are still a loss because of a high purchase price (above $0.002), at least you are not facing a 100% loss. After receiving the buyback proceeds, you can move the cash to a new investment or trade and hopefully obtain an excellent return and make up the loss.
In my opinion, there are only 4 negatives to the buyback process.
1) The buyback process is very slow and there is lots of waiting.
2) There are major variations in experiences with the buyback program. The first group of buyback participants completed the process in 3 months or so while others completed the process in several months.
3) It is difficult getting a hold of some of the staff involved in the buyback program.
4) The process is easy, but you need to save a copy of everything, be organized, and be patient
Out of curiosity, so why would you hold delisted shares this long, decline the buyback, and sell for a 100% tax loss?
todd-m thank you for replying i am just now trying to figure out what to do with this situation. i never been in this situation before. since you went through this let me ask you this. if you had 1,100,000 shares would it be worth it to persue the buyback or just write it off for tax loss.? i appreceate any information you give. thanks again.
The buyback price per share is .002 minus some fees. The price is located in the buyback documents at Step 2. There is no price per share listed in the buyback documents at Step 1.
how much per share does laho pay on the buy back plan.?
how much per share does laho pay on the buy back plan.?
“Will the stock trade again” has been asked many times. It is best to contact Lans Investor Relations or the Lans Financial Administrator to obtain an answer to your question. However, below are responses from the years 2021 and 2022 that other LAHO shareholders gave to the same question about the stock trading again:
Year 2021
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=165369712&txt2find=trade
Is there any chance at all that LAHO is no longer delisted and trades again?
I am not surprised that you have not received a response yet. It is a very slow process.
Since LAHO was delisted by the SEC and is no longer publicly traded, you only have three options:
~ go through the buyback program for a direct cash payment
~ don’t participate in the buyback program and have the shares continue to sit in your account at a loss
~ don’t participate in the buyback program, call your broker, and have the LAHO shares removed from your account as worthless securities and use the LAHO securities as a tax loss
In the meantime, while you wait to hear from the LAHO buyback program, you may want to consider identifying which bank in your area you will use to obtain the Medallion Signature Guarantee stamp. Some banks don’t have the medallion stamp service while others have restrictions on who can use the medallion stamp service.
Haven't heard back yet...Question: What would happen to your shares if you decided not to go for the buyback? Anyone?
I agree with Todd. Mine was faster, but had to push Eilers. If you, Peter, and VStock turned everything in, then Eilers control the release of funds from Escrow
Congrats for completing Step 1 of Docusign! Yes, that is correct. Now you have to wait to hear from Peter to go to Step 2.
It seems that everyone has a different experience when comes to moving from Step 1 to Step 2. Some people waited a few weeks while others waited a few months.
Congrats for completing Step 1 of Docusign! Yes, that is correct. Now you have to wait to hear from Peter to go to Step 2.
It seems that everyone has a different experience when comes to moving from Step 1 to Step 2. Some people waited a few weeks while others waited a few months.
So far, I have accomplished Docusign part 1 and now I guess I wait to hear from them to go to part 2? Sorry to be asking every step of the way, but I find this so intimidating. Thanks again for holding my hand through this.
I totally understand. It definitely helps to ask questions and bounce issues off other LAHO shareholders/iHub members who have gone through the buyback program or who are still moving through the buyback process.
The one thing that sticks out from all the posts is if one person is having a problem or difficulty with the buyback program others are having the same problem or difficulty.
Lol, I think everyone needed to ask questions to make sure they were doing things right and that is why there are so many posts in both the LAHO discussion forum and the MSSV discussion forum. Also, I think it is the same reason why others have disappeared. Lol!
Thank you for helping me through this process. You are very thoughtful and informative, and I truly appreciate you taking the time to spell everything out for me. Best of luck to you and everyone else trying to get their money returned to them.
I have two answers to your questions: the short version and the long version.
The short version:
I will repeat what a few iHub members told me. You will have to go through all of the official channels. You also have to be patience and organized.
lans.holdings is the site for the LAHO share buyback instructions and form link to convert your shares to cash.
The long version:
When I first returned to iHub’s LAHO discussion board, the LAHO’s company website was down for many weeks for maintenance. Over the several weeks, I read through a large portion of the LAHO buyback posts on both discussion boards. So below, is a copy and paste of the information from post # 71057. I wrote the original summary in post # 71057 because there were other LAHO shareholders who arrived at the same time I did and who had questions about the buyback.
Update#1- Partial Summary of Years of Postings
I did not follow nor check the discussion board for quite some time (years) on the outcome of Lans Holdings’ plan to relist its LAHO shares. Since May of 2022, my contacts with the LAHO board have been more frequent.
Many iHub members who have followed the board more closely have posted that Lans Holdings decided at some point in time to remain a private entity and that Lans Holdings would not return to a publicly traded status. Although Lans Holdings is currently a private entity, the LAHO discussion board and the MSSV discussion board both note that Lans Holdings has decided to repurchase all of its shares of common stock that were formerly publicly traded from shareholders who still have LAHO shares. The repurchase is to be made through "The Return Treasury Agreement" buyback program. If a LAHO stockholder agrees to participate in the program, "The Return Treasury Agreement" buyback program will repurchase the delisted LAHO shares for a direct cash payment.
According to the posts on iHub, around June 24, 2021, there was an announcement that there would be a future update that would provide the contact information and a procedure for the repurchase of the delisted LAHO shares. Also, the MSSV 8k dated 6/24/2021 stated that: “the Company will pay LAHO, by delivery in escrow, an amount equal to USD $8,200,000 (“Cash Payment”), which Cash Payment shall be used by LAHO for the repurchase of all of its shares of common stock from its common stockholders.” In November 2021, LAHO posted on its website "The Return Treasury Agreement" buyback program.
https://www.lans.holdings/
For those who are just finding out, access the Lans Holdings website. Click on the shareholder notice and then click on the Return to Treasury Program link to start the DocuSign process.
For those who are process people or for those with feelings of doubt, suspicion, or concern, once you open the DocuSign link (on a desk lap top), on the right of your screen you’ll see, “Other Actions.” Click on that link and you you’ll see a drop down. Click on “View History” and you will be able to track the progress of your submitted buyback documents (when Peter Lundberg received your docs, etc).
People have been posting messages on both the LAHO discussion board and the MSSV discussion board about almost every aspect of the buyback and potentially complicated buyback situations such as:
• LAHO shares are at multiple brokerage firms
• LAHO shares are in multiple accounts
• LAHO shares are in a legal entity, a tax deferred plan, an employee stock plan, an IRA plan, or a Roth plan
• a LAHO stockholder resides outside the United States and LAHO shares are located outside the United States at a non-US brokerage firm
If you have one or more of the potentially complicated situations above, you probably should call the contact person (Joseph Donohue) at Vstock Transfer so you can avoid delays and mistakes before starting the DocuSign process. You should also have a discussion with your broker, your accountant / tax professional, and your bank before starting the process.
According to the transfer agent, there are shareholders who have an insufficient number of shares and who run the risk of not getting approved to participate in the buyback. The administrative processing fee is greater than the payout value of the shares. You should call the contact person (Joseph Donohue) at Vstock Transfer to make sure you are above the cut off number.
The administrative processing fee was $250.00 in February 2022. The $250 administrative processing fee is deducted from the amount you are getting back. The total fees (administrative processing fee + other fees) seem to vary based upon individual circumstances such as which broker, which bank, etc. Some people paid an extra fee for rush service at their broker or at their bank while others were not charged any fees.
According to the December 2021 posts on the MSSV discussion board, there were over 2,200 LAHO shareholders. Many posts on the LAHO discussion board and the MSSV discussion board both indicated that the DocuSign link temporarily stopped working because it was overwhelmed. It appears that Lans Holdings received a “much better than expected response.” The “initial DocuSign subscription maxed out” after receiving “over 1,000 responses and the LFA (Lans Financial Administrator) is working on it now. Thanks for your patience.”
A post on the MSSV discussion board stated that they can only complete about 30 submissions a week. Many posts on the MSSV discussion board stated that wire transfers are initiated once a week. While going through the buyback process, people have been posting information received from Lans Holdings, their experiences, their frustrations, their setbacks, and their payout amounts on both the LAHO discussion board and the MSSV discussion board. LAHO stockholders seem to be located in multiple countries such as the United States, Canada, a few countries in Europe, and at least one country in Asia.
The messages about the repurchase of LAHO shares are located on two iHub discussion boards: this board (LAHO) and MSSV board.
I completed and returned the first portions of DocuSign. I am still waiting to move forward in the buyback process to the final steps of DocuSign.
I guess I'm a bit late to the buyback program. Can anyone tell me the easiest possible way to get this thing started? Can I just make one phone call and be done with it? All the different comments are just so overwhelming.
Thanks for the FYI. I have to agree that the buyback process is extremely slow. In my opinion, the current turnaround time is way slower than what the first group of people experienced. It took the buyback program around 6 months to move me forward from Step 1 of DocuSign to Step 2 of DocuSign. I am still moving through the buyback process.
According to many posts, Smith Eilers in Florida is the escrow firm/law firm that is responsible for payments. I would call the law firm. The contact person/escrow agent is Selvia.
The direct number to the escrow agent is no longer stickied in this forum. The main telephone number for Smith Eilers is: (561) 484-7172.
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