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Looks like we are making good progress sorting this out. First you said that Jeffrey Low did not receive shares. Now you agree with me that he got Ziv's shares. Jeffrey Low used his home address on a filing so I have his home saved as a favorite on Zillow. He listed it for sale when OWCP was hot and quietly delisted when the other Jeffrey got busted and the stock suffered a reduced market capitalization.
You can believe what you want. But, boy, are you wrong. I'm being so honest here.
How would you even know that the two Lowes were brothers on social media? Did it actually state that? Because, you know, there are quite a few Howard Lowes in Maryland.
I have no idea who Jeffrey Lowe is personally.
I was able to connect the Lowes via social media at the time. Interesting that you know them.
Your talking about Medmar and Jeffrey Lowe. Medmar was based out of Maryland.
Howard and Jeffrey Lowe are not brothers! Lowe knows Turner. They are friends.
The person you call "Howard" has nothing to do with Lowe. That guy was just an average investor that wanted to help others know the truth.
There was a filing that Ziv sold him the shares. I'm not going to prioritize finding it again. I don't believe it was for cash. I only call Howard Howard because that is the name on the Israeli Visa was posted on the go fund me.
Where in the world did something like that come from?
That isn't true at all.
I have spoken to the person you refer to as "Howard" in the past and he has no brother in Maryland. And has never been awarded any shares of this company either from Ziv or other past executives.
That second part is interesting. What do you suppose happened to the shares that Ziv was awarded in his legal action against the company that he sold to Howard's brother in Maryland?
You could always file an amended return in 3 years and take the deduction after the scenario plays out and you know that you won't be paying the IRS back with interest. I think that I am alone here expecting the business to arise from its ashes more powerful than ever before but even if not anything could merge into this ticker. Its a squeaky low floater. Except for the guy in Maryland but he is small potatoes and could easily be bought out.
I did sell all my shares in 2023 however there is a tax deduction allowed for theft ,we only were reimbersed half .The question is the other half tax deductable for fraud/theft ?
Sell your shares? That would be like when my Aunt sold my Uncles old Chevy cheap when he died. Yes it was a 67 Vette Convertible.
you have to sell your shares (I believe) in order to take the loss/realized loss. Keep in mind there is only a $3k max deduct you can take.
any ideas for tax season ,if this was a thef/fraud and we only recieved half reimbersment is the other half tax deductable.? thanks
It was only a moment above $3 as well as $2 maybe a day and settled a week around $1.30 for a week. I sat on 1.15 mil shares and when it began to break back under a buck, I began to unload. Wish I had listened to I GLOW sooner. Oh well :)
That's funny but your target is missing a few zeros!
Oh right I forgot. This is going back to $3.23. New CEO is Hordichi Lilnitz.
Really, I just miss the good times bantering with Howard. I hope that he enjoyed it as much as I did!
I don't have any dead shares. Mine are seeds that will sprout into a glorious future. Any time I start to slip into doubt I reread my old emails from Ziv and Bignitz.
What’s everyone actually doing with their dead shares? Selling for tax loss? Holding for something to occur years from now? I have 3k tax loss elsewhere so no point in selling this year for me. But what’s the point in holding either….
Some visionary got some shares for the same price that Lenny sells mattresses this morning. Their Mattress was Freeeeeee!
That’s how I feel about it, definitely going to call back and force the issue. Thanks
There you go. If they don't know what to do with the shares they can put them in my account.
As I've posted in the past, I've done this multiple times (unfortunately) with TD Ameritrade and never had a problem. They usually don't even charge a commission. They do it as a courtesy. They'll "pay me" a dollar or whatever for the lot & then charge about the same as a fee. I have no idea what your account value is (none of my business) but I'll assume you have other holdings & I don't know if that matters?
I would be pissed and would definitely call them on Monday. Ask for a manager, what their complaint process is, etc. Tell them this is bullshit and "you know people who do this with no issue with TDA".
Offer to pay a $25 fee or something like that. Ask them if "you" can open a second "trading account" or something like that in your name to do it. Or if you can open an account in your wife's name, a friend, etc to do it. If you can & they make you go that route, before you go thru the hassle, be sure to tell them you be closing both accounts immediately after execution because their service sucks and you want to work with a broker that actually has customer service.
Good luck.
That's very risky. In a few weeks the stock may appreciate and you could make a profit and lose your tax loss.
Thanks, I will definitely be calling them back in a few weeks if this doesn’t work.
I’ll keep updated, thanks again.
Just a limit order and I couldn’t even add an extra 0 to the decimal to make price $.23 instead of $23
Will your broker let you put in a sell at the market order? Then the big accumulator could get them at his prevailing price.
Thanks for your response. I thought so too but when I called this was the only option they gave me.
I guess I’ll give it a month and then I’ll try calling them again.
I don't have an account that would let me buy them. I think that your broker could help you donate them to charity.
Is there someone out there kind enough to purchase my shares for sale, limit sell order for 230,000 shares at .0001 (lowest Fidelity would allow me). Need to deduct tax loss but there’s basically no market =\
I have emailed the fund regarding my broker not receiving my settlement cheque.
I also queried the fact that an active claim submitted on my behalf has a 2024 settlement date.
Hopefully I will receive a reply.
Thanks for the reply. Much appreciated.
My claim is being handled by my broker. So I contacted them.
All they had to say that the claim is active (I assume this means it hasn't been rejected).
They also said that the expected settlement date is
3/28/2024.
Very strange indeed as investors are currently receiving their settlement cheques.
They were unable to provide any further information.
Do you mean you never got any correspondence about your claims? Each claim should have received a yay or nay. It qualified or it did not qualify. If you didn't receive anything, you should call them for full explanation. sorry to hear this.
Do you mean you never got any correspondence about your claims? Each claim should have received a yay or nay. It qualified or it did not qualify. If you didn't receive anything, you should call them for full explanation. sorry to hear this.
Strange that I have not heard from the fund at all.
Nothing , not even a letter of explaining reasons for non payment.
Surely there should be some correspondence regarding my claim.
Anyone have the same problem?
Thanks.. your taking the time to explain is much appreciated!
Thanks.. your taking the time to explain is much appreciated!
Wow, this actually hit a high of $3.23 in February of 2017. If only I had sold then......
I posted about the ".39 cent PPS thing" a few times. I also tried to explain it in detail to MMJ but he never replied to me so, whatever.
Not saying this is fact, but this is how I see it so try thinking about it this way:
The "Fund" determined that a "fair PPS" was .39 cents BEFORE, or without the Friedland pump. It's also easier to calculate if you had NO sells during the period. So if you paid 1.00, you overpaid by .61 cents due to JF. Since you didn't sell until after the period ended, your claim is .61 X the number of shares purchased.
If you paid .25 early on, JF had no impact on the PPS and you had the opportunity to sell for profit.
If you paid .25 later, after the pump & during the slide (for the good 'ole average down) you should have known by then something was fishy due to the spike & crash and talk about JF.
I think they're saying if JF never existed, the PPS would have hovered around .39 cents until something "real" happened, positive or negative.
Also, when I say "should have sold, or known", I include myself since I was a sucker too & took a big hit. Hope that helps?
well, i finally got my response from them. yes, everything within that period that you bought for less than .39 goes against your qualified losses. i thought that would only apply if you sold it. doesn't make much sense to me but it is what it is. so, you're in the same boat as i am. still, i guess its all better than nothing. i got alot more back than you because i bought alot for much more than .39. thanks, everyone.
Is the $100k in losses actual losses or is it your investment plus gains.
You should only receive the amount of your investment as a maximum. Plus, the fund was around $4 million so you would only receive your original investment during the time frame and that would be a percentage of the $4 million.
I hope no one thought they would be made whole especially if they thought they would receive their investment plus gains.
I know it doesn't seem fair but some lost their entire investment.
IG
https://www.sec.gov/divisions/enforce/claims/docs/friedland-proposed-distribution-plan-120721.pdf
MMJ, I'm no lawyer and reading the doc can be confusing. Here's a link to the document; Pg 34 has the section on Market Loss Limitations.
If you want my uninformed opinion, here goes.
1st sentence says Market Loss is the value the fund will use IF Market Loss is less than Recognized Loss.
2nd sentence says if Market Loss is a gain, no payment from the fund.
3rd sentence is formula for Market Loss: (Total Purchase Price of shares during relevant period) - (Sales of Shares during Relevant Period) - (holding value of remaining shares after relevant period [$.39]). Since you purchased a number of shares for less than $.39, I think those shares reduce the market loss. Since your market loss is now less than your recognized loss, it becomes the value they paid for from the fund per 1st sentence.
But I may be way off; I'd think you'd have to speak to a fund administrator to get a full accounting of how your recognized loss was calculated. If there are any attorneys still reading the board, they may be able to clarify the language of the agreement. Good luck, and hope you get better clarification than I can give you!
My spouse checked the P.O. Box and my check came.
My spouse checked the P.O. Box and my check came.
I just called the Jeffrey Friesland Fair Fund and inquired about my pending distribution. My check was mailed on September 26, 2023; however, I never received it as of today. I was instructed to email “info@JeffreyFriedlandFairFund.com” and provide the address I want my check to be sent. Also, to include my Claim ID. If you need to speak with a rep, you can call 1-877-379-5985.
I was alittle confused about how they came up with my market loss. Does all the shares I bought under 39cents factor negatively into that?
MMJ, unfortunately, the agreement stated clearly that the Market Loss supersedes the Recognized Loss if the Market Loss is less than the Recognized Loss (Market Loss Limitation, pg 34 of the agreement). They just calculated the payments based on the rules that were agreed upon by all parties when the agreement was negotiated.
Sorry you didn't get what you hoped for.
Looks like I'm the only moderator now. Was everyone here just for the Fair Fund Settlement? All kidding aside I'm glad for everyone that participated and got a settlement. Not my game, but I'm glad so many of you got something.
They’re saying my market loss is less then my recognized loss so they’re going by market loss. I guess every share I bought under 39 cents hurt me. Which is bullshit
SHAREHOLDER ALERT!
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