Sunday, February 26, 2017 12:01:56 PM
The founder of FASC,an alternative energy, wanted to develop a another venture of his to compete with NETFLEX, originally called Video Movie House (VMH), and later renamed Virtual Media Holdings. The stockholders of record , as of 9/1/02 received one share for every 10 shares of FASC. My allotment came to 49,750 shares. The founder died before VMH could be developed and the stock was later acquired to develop something else and finally used as another alternative energy developer.The irony of all of this is that FASC was the hot stock and VMH,later BMSPF was a "pipedream" . Now it appears the FASC was the pipedream, and BMSPF is on the verge of success.
To be honest, I would have used BMSPF as a shelter for some of my capital gains, but fortunately had no loss to take from the stock. I am acquiring more BMSPF with the knowledge that if it dose not pan out (it certainly is looking more and more like a winner ), I can always use the loss to cover more of the capital gains that have acquired. Good luck to all of us!! FWIW :)
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