[Blue Skys]

Isn't it wonderful.

[Blue Skys]

Looks like everyone received their checks.

[Blue Skys]

Good morning OWCP!

[Blue Skys]

Its a great weekend for reading the list of 6000 granted but suppressed patents on the dark web.

[Blue Skys]

Actually, I've noticed that you have been posting about OWCP on the various George Sharp boards drawing comparisons between the stocks with surprising regularity. I have not addressed them although I moderate those boards because they provide me with a certain level of entertainment.

[I-Glow]

I haven't kept up with OWCP - who owns the shell. Because it is in danger of being suspended and revoked.

They haven't filed any financial information since 09/30/2019.

IG

[I-Glow]

My first accountant told me it isn't how much you make it is how much you keep.

IG

[Smallville]

Hearing Hamas lost millions here. i hope they dont start trouble.

[Blue Skys]

Looks like the Fair Fund issues have mostly been resolved. I'm looking forward to the next phase of the game after descheduling.

[retired early]

They can always count on you to set them straight but many just spring right back. :)

[ChuckBits]

This is the one question I asked my accountant 20+ years ago before I hired him:

What is the sum of 2 + 2?

His answer:
.
.
.
.
"Whatever you want it to be"

[I-Glow]

You forgot the Fair Fund established OWCP as a fraudulent operation. OWCP is on the Expert Market (the old Grey's).

"The IRS is basically saying what happened with OWCP does not qualify for ponzi scheme section C of the form. This is exactly what happened with OWCP but it was a spokesperson rather than and officer or director. I can’t imagine the rules would change being it’s a spokesperson who committed the fraud rather than an officer/director."

The IRS Tax Code isn't written in stone they are guidelines.

"The IRS is basically saying what happened with OWCP does not qualify for ponzi scheme section C of the form. This is exactly what happened with OWCP but it was a spokesperson rather than and officer or director. I can’t imagine the rules would change being it’s a spokesperson who committed the fraud rather than an officer/director."

I certainly appreciate your input - and we will see what happens.

IG

[I-Glow]

The IRS Codes are not laws they are open to interpretation - there are many gray areas that clever Accountants can exploit.

My first accountant told me it wasn't how much you make but how much you keep.

I believe if anyone loses money in a Ponzi scheme or any type of fraud you can write off the losses as Theft.

The SEC Fair Fund proves that OWCP was involved in fraud.

IG

[Tesla Trillionaire]

S form? Who is your tax professional? I’ll give them some business if they want to write off my losses as theft.

[Tesla Trillionaire]

Per the IRS instructions on what you cannot claim as a loss on form 4684, “a decline in market value of stock caused by illegal misconduct by the officers or directors of the corporation that issues the stock, that was acquired on the open market for investment” cannot be claimed on form 4684.

The IRS is basically saying what happened with OWCP does not qualify for ponzi scheme section C of the form. This is exactly what happened with OWCP but it was a spokesperson rather than and officer or director. I can’t imagine the rules would change being it’s a spokesperson who committed the fraud rather than an officer/director.

[I-Glow]

I am beginning to think that OWCP will be suspended before another company comes in and tries to pump it.

OWCP is on the Expert Market and is also an SEC Delinquent Filer.

Now, OWCP has to file 15c again and the SEC/FINRA is making it almost impossible to process a 15c2-11.

IG

[I-Glow]

From the Form 4684:

"A—Personal Use Property (Use this section to report casualties and thefts of property not used in a trade or
business or for income-producing purposes. For tax years 2018 through 2025, if you are an individual, casualty or theft losses of personal-use property are deductible only if the loss is attributable to a federally declared disaster. You must use a separate Form 4684 (through line 12) for each casualty or theft event involving personal-use property. If reporting a qualified disaster loss, see the instructions for special rules that apply before completing this section.)"

Then we have:

"SECTION C—Theft Loss Deduction for Ponzi-Type Investment Scheme Using the Procedures in Revenue
Procedure 2009-20 (Complete this section in lieu of Appendix A in Revenue Procedure 2009-20. See instructions.)"

The Tax Code is guidelines not rigid rules - you could possibly use Section C losses from a Ponzi type investment scheme.

This should be a special topic on how file to take advantage of the OWCP losses.

IG

[Blue Skys]

But to do that you have to sell the stock and miss out on the biggest runner in the history of the OTC!

[swamp boy]

Tax theft/loss S form .You take the unreturned number from fund and deduct from your total income tax .This is your new taxable income number for 2023 .example if 2023 is 100k you got 25 k back and you have 25k as your loss then new number is total 75k as taxable

[Tesla Trillionaire]

Tax code section 165(e) provides examples just like OWCP and states that they’re not allowed for losses. Did you have any luck claiming a theft loss?

[Tesla Trillionaire]

But form 4684 states theft losses for years 2018-2025 are only deductible if attributable to a federally declared disaster…

[Tesla Trillionaire]

Did you already claim a loss when you sold your shares though? Or if you didn’t already sell and claim the loss, what will you do when you do sell? You wouldn’t be able to claim a theft loss now then sell shares later and claim the loss again next year or whenever. Any idea how that works? Curious about the theft loss approach.

[DGlover]

how is everyone treating the settlement from Jeffrey Friedland Fair Fund re: tax returns?

[I-Glow]

I took a look at the documents about the $7 Million:

""Fair Fund" shall mean the funds totaling $4,179,000"

Link to approved plan: https://www.sec.gov/divisions/enforce/claims/docs/friedland-proposed-distribution-plan-120721.pdf

I believe you are correct in that the SEC didn't file a complaint against OWCP.

IG

[I-Glow]

The final order for all 3 named was a total of $4,158,998 not $7 Million.

The Final Judgement: https://www.sec.gov/divisions/enforce/claims/docs/friedland-judgment-120419.pdf

IG

[Musical Shares]

It was.

There is a movie produced with that title. I have never seen it and do not know what the contents are about. Although, I do hope the premise is about the butterfly effect in someway.

[Blue Skys]

I think it was you that mentioned The Butterfly Effect a while back. I looked it up at the time. I just saw a movie with that title on Amazon. Is it worth watching?

[cleanliving]

I just received a so-called Form 1042-S in the mail from the fair fund. I'm a canadian resident. Do you guys know what this is for? Thanks in advance.

[fat_tire]

I’m still holding too!! It has been a long journey…

[swamp boy]

I have a long time certified public accountant I will give it to her and hope for the best.My thought is if the SEC charged Specifically, the Complaint alleged that, Friedland engaged in a nearly $7 million securities fraud scheme to conceal the nature of his interest in an Israeli medical marijuana company, OWC Pharmaceutical Research.Friendland not the company was the defendant . he defrauded investors and we only got half on the money back if there was more money we were entitled to full restitution. This was a theft and prosecuted as such. I can only try thanks

[I-Glow]

I believe that you can use your entire loss and not limited to $3000.

Nice work.

IG

[I-Glow]

Do you believe that will work? That is very interesting.

IG

[swamp boy]

Thanks not sure if section 3 is appropriate ,?

[abrooklyn]

https://www.irs.gov/pub/irs-drop/n-04-27.pdf

https://www.irs.gov/pub/irs-pdf/f4684.pdf

[swamp boy]

Investment and other theft losses are covered in the IRS section 165 of the tax code. If you wish to claim a deduction for any losses due to investment fraud, you must complete a theft loss report. Theft loss reports should be submitted using Form 4684 and Form 1040 Schedule . Good news for my 2023 taxes

[Blue Skys]

You are going to make a lot of money on your OWCP shares IMO.

[TOM611]

Go. OWCP. I’m. Here. Also. Blue. Sky. !!!!!

[Portuguese Ham]

You are not alone brother… I’m right here with you!

[Blue Skys]

Maybe he was recently but I was thinking of the deep past. I think that the way they promoted that deal is very similar to what has occurred to date with OWCP. They pioneered rotating CEO's and officers talking smack about each other and much of the style of the way OWCP released "news" and there was an external guy just like Camelot who posted on this board. OWCP used the SLJB tactics and added 3 shareholder votes and the promoter getting arrested by the SEC. I feel like I'm watching a sequel to a movie. Fortunately its nearing time for the second sequel probably shortly after rescheduling. At least we know now that the hundreds of posts that CATV was getting all of the OWCP assets for pennies on the dollar were not accurate and all 3 lawsuits are resolved with no impact except of course the judgement in the Southern District of NY which I expect to pay off the team when the company launches. The preferred conversion will enrich insiders but since they neglected to set up a preferred series to control shareholder votes they were not able to dilute the legacy shareholders out of the game so they were forced to retain the value of those positions. Watching years and years of accumulation of the common stock has been joyful. I am sure that there are others who are silent but I am grateful to have a substantial holding of the common since there is no easy way for a US investor to participate in the accumulation with it being on the Expert Market.
No need to tell me that OWCP is dead. I am aware that I alone hear the heartbeat and it is getting stronger by the day.

[I-Glow]

Wasn't Carey Cooley involved with Sulja Brothers?

IG

[Blue Skys]

I'm fairly sure that if I got as far as a custodianship hearing we would see management appear out of nowhere and do whatever it takes to retain the company. Knowing that it will probably be impossible to acquire shares prior to launch I'm grateful that I have my position at around 1 cent. Someone has been accumulating shares for years and years. I think that this stock will eclipse Sulja Brothers in the originality category when the cards are laid on the table. The Camelot affair, the 3 share holder votes and Ziv's lawsuit. I think that beats SLJB getting investors to buy into shipping concrete from Canada to Dubai.

[Musical Shares]

Why don't you file for Custodianship of OWCP and find a real company to merge with OWCP?

Why would anyone do that... when there is an $8 million dollar judgement against this very shell?

It doesn't go away if someone decides to take custodianship of it and merge another company. That's the first step in acquiring a shell/merging a company with a shell. It's due diligence of lawsuits/financial judgements against it.

The shell is tainted. It will either be bought by Kirkland, forfeited in an asset seizure down the road or at the very least be bought by someone who is linked with Kirkland.

[TOM611]

Go. Owcp. Blue skies you’re 100% correct… The party is going to be grand grand.

[TOM611]

Go. Owcp. Five times normal volume today I’m still holding 1 million shares from years ago and I believe the future is definitely green for this company once they straighten everything out.