Enterra Corp (ETER)

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Notice the CEO gave himself $7 million in stock for a $492,000 transaction? He better be prepared to pay taxes in 2015 on the difference.

The stock was quoted/trading at $0.70 cents at the time of the transaction for a valuation of $34,400,000 in exchange for $492,000 in assets.

The transaction does not qualify under US Code 368 nor US Code 356.

Therefore, he gets to pay taxes on $33,948,000 in 2015.

Hopefully he has the cash, the IRS will be paying a house call, no certified letters in the mail on that amount.