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https://www.planespotters.net/airline/Tempus-Applied-Solutions
REG AIRCRAFT TYPE CONFIG DELIVERED EXIT DATE STATUS / FATE REMARK
N304CS Lockheed L-1011 TriStar 500 Tanker Transport Sep 2017 Jul 2021 Scrapped
N309CS Lockheed L-1011 TriStar 500 Tanker Transport Sep 2017 Jul 2021 Scrapped
N405CS Lockheed L-1011 TriStar 500 Tanker Transport Sep 2017 Jul 2021 Scrapped
N705CS Lockheed L-1011 TriStar 500 Tanker Transport Sep 2017 Jul 2021 Scrapped
He’s a crooked dick!! Only ever cared about himself! Not to mention a terrible CEO!
Thanks Johan. You totally fucked us over on this one!!
Photos of the six scrapped Tristars are viewable currently at https://www.airliners.net/forum/viewtopic.php?t=1472579.
https://www.planepictures.net/v3/show_en.php?id=1654386
https://www.planepictures.net/v3/show_en.php?id=1654353
From September 2021
Looks Like the registration expired last year.
https://flightaware.com/resources/registration/N304CS
US registration in 2018
RAF KC1 - Lockheed MSN 1157 - RAF ZD948 - FAA N304CS
RAF KC1 - Lockheed MSN 1164 - RAF ZD950 - FAA N405CS
RAF KC1 - Lockheed MSN 1165 - RAF ZD951 - FAA N309CS
RAF KC1 - Lockheed MSN 1174 - RAF ZD953 - FAA N705CS
RAF C2 - Lockheed MSN 1186 - RAF ZE704 - FAA N507CS
RAF C2 - Lockheed MSN 1188 - RAF ZE705 - FAA N703CS
Where are our planes?
I would have thought we'd have a resolution by now. I can't even take the loss. Would be miraculous if we ever got our money back here...
https://www.sec.gov/litigation/suspensions/2020/34-89252-o.pdf
It appears they just suspended both at the same time, but that the companies aren't related. That's how I read it anyway.
It appears to the Securities and Exchange Commission (“Commission”) that there is a
lack of current and accurate information concerning the securities of Spotlight Innovation Inc.
(“STLT1”) (CIK No. 1388486), a revoked Nevada corporation located in Urbandale, Iowa with a
class of securities registered with the Commission pursuant to Securities Exchange Act of 1934
("Exchange Act") Section 12(g) because it is delinquent in its periodic filings with the
Commission, having not filed any periodic reports since it filed a Form 10-Q for the period
ended June 30, 2018. On September 30, 2019, the Commission’s Division of Corporation
Finance (“Corporation Finance”) sent a delinquency letter to STLT requesting compliance with
its periodic filing requirements, which was delivered. As of July 6, 2020, the common stock of
STLT was quoted on OTC Link operated by OTC Markets Group Inc. (formerly “Pink Sheets”)
(“OTC Link”), had five market makers, and was eligible for the “piggyback” exception of
Exchange Act Rule 15c2-11(f)(3).
It appears to the Commission that there is a lack of current and accurate information
concerning the securities of Tempus Applied Solutions Holdings, Inc. (“TMPS”) (CIK No.
1628871), a void Delaware corporation located in Newport News, Virginia with a class of
1 The short form of each issuer’s name is also its stock symbol.
2
securities registered with the Commission pursuant to Exchange Act Section 12(g) because it is
delinquent in its periodic filings with the Commission, having not filed any periodic reports since
it filed a Form 10-Q for the period ended September 30, 2017. On August 29, 2019, Corporation
Finance sent a delinquency letter to TMPS requesting compliance with its periodic filing
requirements, but TMPS did not receive the delinquency letter due to its failure to maintain a
valid address on file with the Commission as required by Commission rules (Rule 301 of
Regulation S-T, 17 C.F.R. Section 232.301 and Section 5.4 of EDGAR Filer Manual). As of
July 6, 2020, the common stock and warrants of TMPS were quoted on OTC Link, had nine
market makers, and were eligible for the “piggyback” exception of Exchange Act Rule
15c2-11(f)(3).
The Commission is of the opinion that the public interest and the protection of investors
require a suspension of trading in the securities of the above-listed companies. Therefore, it is
ordered, pursuant to Section 12(k) of the Securities Exchange Act of 1934, that trading in the
securities of the above-listed companies is suspended for the period from 9:30 a.m. EDT on July
9, 2020, through 11:59 p.m. EDT on July 22, 2020.
By the Commission.
Vanessa A. Countryman
Secretary
Updated SEC form- Spotlight Innovations?
What do they have to do, or did, with TMPS?
I think they are a pharmaceutical company
https://www.sec.gov/litigation/apdocuments/ap-3-19861.xml
Asked and answered, move to strike.
WTF?
when are we going to get another update?
i still can't claim the loss either. perpetual limbo.
One more month closer to a sure death.
After 9/28, I’ll ask E-trade to just make my old TMPS position disappear.
I forgot if it’s a hood shell to rehabilitate as a custodial play?
Anyone remember the SS, debt and control structure of that thing?
If this is at all accurate?
https://investorshub.advfn.com/Tempus-Applied-Solutions-Holdings-Inc-(fka-TMPS)-30990/
I’m involved in a crowd of reverse merger community.
I can put eyes on this to bring back alive if it’s not too skanky.
Getting off the grey sheets is just $12-24k. If my guys can make a cool $150k+, they will bring in a New Company.
You’d think removing the planes, there would be no debt.
Just make a deal for the control block and get filings current.,
It’s all I invest in.
IHAI
BABl
BDCM
HENI
THDS
QUAN
RIBS
LPHM
EVCI
It’s out there.
Not that anyone cares but here is some contact info for Tristar Aerospace LLC. Obviously the phone number goes right to voicemail.
https://opengovus.com/sam-entity/117230147
Come Sept 28th, many OTC stocks are going the way of TMPS..
It’s going to be brutal. Just imagine how many people have no clue.
I’m only down $250 in here and would love to get this off my portfolio.
$250 ain’t worth the effort on my taxes.
Snd what happens if the shell came alive snd went through the roof like a IHAI shell play is doing.
After you take the loss, do you still hold the shares?
I had one dead shell NFLL run 1,500% out of no where. Cashed in and exit ASAP. It happens.
One thing I’d not do, call your Broker to ask they make the shares go away.
Best to keep em in your account as a badge of honor
If you play penny stocks long enough, your going to pick up a few dead ones.
It’s the handful that return big that makes you $10k for every $100 in delisted dead plays
I can’t wait for Sept 28th. The bitching is going to be tremendous.
Anyone remember the SS in here?
Where is the SOS? Delaware is a dead stock grave yard.. avoid those.
I assume the shell has no debt or assests
How is the control block set up?
Sorry for asking, it’s been awhile.,too many plays inbetween.
I’m wondering if this is a worth R/M play going forward.
I have a good relationship with these guys.
Maybe this shell is a good custodial play.
https://www.synergymgtgroup.com/
It looks abandoned.
I did get an e-mail reply from the old CEO that the Company is not dead. I replied it looks dead to share holders.
It probably needs the control block sold to another then R/S this to a 2mm float or less.
I wonder how hard it would take to become current ?
And is there any fraud to be exposed if it went current.,
If this is hiding fraud, then it’s beyond dead..
Sorry? YOU were wrong!
I told you the billionaire would screw you just like he did with HEAD stockholders!
Thank you for taking the time with a detailed reply! I think the point was, if someone "wanted" to claim the loss, (hopefully to offset a nice gain) a courtesy sale is likely the easiest, safest way to claim it without a problem. In addition to my broker confirming that, I have seen many articles to confirm.
I "think" the potential for problems comes in when you "claim" the loss, without actually dumping your shares? I know you can "do it", but it looks a bit tricky?
Stupid me, held shares in IRA accounts so I personally have no reason to "claim a loss" so I'll hold it indefinitely. But someone who "needs" a loss, can courtesy sell. Remember they do "pay you", even if for a penny or 2.
I've actually had dead shells come back to life, but I think they still had a "ticker". Not sure how this one could come back?
PS I hope for the same! Cheers!
To answer, "how do I claim the loss"?, I would say that you would designate the shares as worthless on your 2020 tax return. There were events that occurred to the company in 2020 that I believe would clearly justify that. There are instructions in Form 1040 about how to designate worthless shares. You can review my posts here since early April about that. There are not many posts on this Board so you should have no trouble finding them.
I took the loss in that way. I could have done the following other things, but chose not to:
I didn't let my broker buy my shares for basically nothing. This would put the stock sale in their 1099 to me and be a record that the stock was sold at a total loss, but I would lose the opportunity of recovering if TMPS somehow could have value again. I realize this is extremely unlikely, of course, but there is no need to give up your shares when you can declare them worthless on your tax return.
I didn't wait until 2021 to declare the shares worthless. There will be no events that can happen in 2021 that will make the shares worthless since by the end of 2020 they were already worthless. The IRS is apparently picky about when you can declare a stock worthless. If you declare a stock worthless in a year that is too late, the IRS can disallow it. I am not sure whether a "courtesy sale" defeats that problem with the IRS. The IRS could say that the sale doesn't prove the stock wasn't worthless and instead actually had a tiny value at time of sale. They could just say the broker did a "courtesy" of not charging you or "giving you a penny" to get the shares off of the account, but the shares were worth zero earlier and you sold in a year too late. I realize that this scenario also is highly unlikely to be a problem.
Well, we all lost on this one. I suspect everyone will take their loss one way or another and that will be the end of it. But I hope that my information is useful to you. I also hope we never find ourselves in this situation again!
Care to elaborate? Note that I'm not a "tax advisor", accountant, etc! However, in the most simplest form, you realize a loss "when the stock is sold".
I know you can complicate things by declaring, proving when a stock became "worthless"; re-filing returns if needed, etc, but the original question from the poster was "how do I claim the loss"? Not "what are my options".
What could be easier than "selling" the shares to your broker? If they give you a penny, the shares were not worthless, right? Why would it matter "when" they became "almost" worthless? The "loss" will automatically appear on your year end statement/1099 you receive from your broker.
I'm reading some pretty bad tax advice here, since TMPS went bust in 2020. But that's just my opinion.
Unfortunately, I also have some experience with courtesy sales...
Yes, that was what I said (sort of) in my option "B". TDA did that for me with 2 other dead tickers I held. They even waived the 6.95 fee.
One sale netted me .02 cents & the other cost me .95 cents. Weeee
I'll be able to claim the losses with 2021 return...
You don’t have to claim them as worthless, you just need to have your broker do a “courtesy sale” for you.
Fidelity is saying you can't claim them worthless yet...
A) You can hold your worthless shares forever & hope for a miracle.
B) You can call your broker tomorrow and tell them to "buy" your shares for "nothing" to essentially close the position & claim the loss.
Anybody hear anything? Per Fidelity, I'm still not able to take this share as a loss. so i guess i wait. bueller? thanks in advance for anyone with a meaningful update. thanks.
Another reminder "Tristar-Aerospace" and not "Tristar-Air". TMPS is totally out of the picture in that article.
Decided to google a bit today. Not sure if the board has posted this.
https://pubkgroup.com/law/although-majority-of-proposal-was-submitted-on-time-agency-reasonably-rejected-proposal-as-late-tristar-aerospace-llc-gao-b-419093/
anything come from this?
A few more that may be able to help all of you track someone down.
Jack Gulbin - former Scott Terry business partner and now enemy. He ran Tempus Aircraft Sales & Service and Tempus Jets.
914-217-9451 jgulbin@ntegrity.parts
Wayne Kapral - former CFO of Tempus Aircraft Sales & Service 303-882-5199
Contact info - hopefully still good
Johan Aksel Bergendorff - CFO
+44 785 051 6275
Beverly Castonguay - Chief Admin Officer
757-869-0844
Scott Terry
864-325-3600
As for me, I won't sell my TMPS shares to a broker for nearly nothing. There is no reason to do so for tax purposes. As I have said, the stock is worthless and the company had actions occur in 2020 that made that so. I took the loss without a sale.
There is no need to sell your rights toward some unforeseen future settlement. The broker would give you nearly nothing in a courtesy sale. Indeed, this would now occur in 2021 after the stock went worthless in 2020. That may cause trouble in a tax audit.
But the chances of any of this are slim to none. If we all strike gold, I will either amend my 2020 return or declare huge TMPS profits against a zero basis in later years.
Just don't neglect to take your tax losses!
Right - you can almost always get your broker to do a "courtesy sale" to enable you to capture the loss., but you can't back-date the transaction into a prior tax year - the calendar rules.
We have a better chance of winning the Mega Millions Lottery on Tuesday AND the Powerball on Wednesday than TMPS coming back from the dead! (IMO)
After the rep said "it's not worthless",I would have immediately asked him "how much will you give me for my shares?"
With that, my worthless shares are in IRA accounts. I did hold some warrants in my regular account. They expired worthless in July 2020 and showed up as a loss on my year-end TD Ameritrade statement. (I know that's not the same thing)
But this conversation prompted me to take action on 2 other delisted/defunct stocks in my regular account. They appear in my account just like the TMPS shares; symbol is gone and now a CUSIP number appears. One died September 2019 & the other August 2020. I sent TDA an email asking them to have them removed/sold so I could claim them as a tax loss. I pasted the email text reply. (too lazy to make a picture of it)
**
Hello,
Thank you for giving me the opportunity to assist you today.
It is understandable that there can be confusion on how to deal with a stock that no longer has value. It doesn't simply disappear once the price reaches zero so I will explain the removal process.
When a stock stops being traded, you still retain ownership of the shares because it is possible the company could begin trading again or undergo litigation requiring payouts to shareholders. However, you can choose to have the shares removed from your account as non-marketable if you no longer wish to retain ownership of the shares. TD Ameritrade will remove non-marketable securities from your account free of charge.
If you wish to remove a stock as a non-marketable security, we ask that you call us at 1-888-871-9007 and speak with one of our licensed brokers. This transaction will generate a trade confirmation and will be irreversible. I hope this is helpful.
We strive to provide the best in-class service to our clients by making it easy for you. Your opinion and satisfaction are essential. If we have not yet met your expectations, or if you see anything we could have done better, please let us know.
Thank you for choosing TD Ameritrade, and we hope you have a great day!
Best regards,
James Westbury
Client Services
TD Ameritrade
1-800-669-3900
**
So I just got off the phone with a rep. I asked how long it would take since I needed to send the loss documentation to my accountant for tax filing. He said 1 to 2 business days, HOWEVER, he also said TDA is technically the party "buying my shares" so the loss will be in my 2021 return! This will be true even for the one that delisted in 2019.
So I guess this means if you really think there is a chance for TMPS, you can wait until December 2021 to pull the trigger. I'm NOT a tax pro, all of this came from my TDA rep so maybe you can ask Fidelity "how" the shares would be removed from your account?
Good luck
I..don't know..what Fidelity knows that.you call writing..this..off "premature".
I don't know what event could happen that would make TMPS go worthless in 2021.
BY the end of 2020 brokerage statements listed TMPS (invalid ticker) price at zero, there were no trades or bid/ask, the stock was delisted and deregistered, the corporation was void and the assets may have been moved to other corporations or LLCs by foreclosure on a Note.
I'm not sure what action is left that would make TMPS become worthless after 2020, since it already seems to be worthless. Maybe if someone finally puts the void corporation into bankruptcy, if that is even possible, maybe that could be your argument.
But if Fidelity has a decent offer price for the shares, this would all be moot. Let us know if you find a market for them, please.
Fidelity said that the stock is still out there and not worthless. i'm going to double-check, but can always amend a return later.
i hope you don't have any issues doing this prematurely.
it would be great if we could end up regaining an active stock with value down the road.
keep me posted with what you do. thanks and good luck.
Also, I can amend my 2020 tax return if TMPS starts trading again, within a time limit. But right now the shares are still worthless and I suspect that 2020 will end up being the last point in time that the shares weren't worthless.
You..must take the..loss for the..year that the..stock becomes..worthless.
Here's an article that details this. How To Write Off Worthless Stock
This point is particularly important:
I spoke to Fidelity today and TMPS while deregistered is still "active" as a stock and you're unable to take losses at this juncture. i'd be curious what rationale you're using in order to take the losses now. I hope you don't make a bigger problem with your taxes, but assume you're getting good counsel if you intend to take the losses for 2020.
i'm really disappointed we're in this predicament with no pulse or insight into what is truly going on.
Take your losses on your 2020 US tax..return, in my non-professional opinion. 2020 was the year TMPS got de-registered, delisted, ceased operations, etc. This is provable. You may not be able to take the loss this year (or in any year after 2020).
You did not have to sell the stock in 2020 to take the loss, I believe.
If somehow the corporation revives and the shares can be sold at some price, your tax on profit would be calculated from a basis of zero if you had written them off.
All of this is just opinion, but I have done this for my own shares.
how are we going to get our shares back in motion? worse case scenario, i'd like to at least be able to take my losses. anybody heard anything?
I wish i had Scott's or johans #.. Better yet address..
I wish i had Scott's or johans #.. Better yet address..
called him and spoke with him. he is representing TriStar but for another case against them. i guess it's good there is a pulse there, but nothing he could do.
we need to track Tri-Star/TMPS down. this is ridiculous we get delisted and don't hear from anyone and then they are defending lawsuits.
Johan?
Scott Terry?
Honestly.
I think we lost Joe to COVID 19,
which is sad.
PB
Turbojoe (jon) was controlling our next moves but has went MIA
What next here guys.Most of us have invested decent amount.
Did any one hear anything /waiting on something?
Here is there new attorney
DANIEL A. VELASQUEZ
Bankruptcy Partner
dvelasquez@lathamluna.com
(407) 481-5807
Enough calls and emails to him he will give someone an answer
Id be willing to throw in money for an Attorney.. If enough of us chip in $100-$200 that will atlease get the ball rolling..
Man, haven’t seen some of y’all’s names in a long time. Hope everybody is doing well. Only posted 3 or 4 times, but I followed this board religiously for 4 years. I had almost $40k in this thing when it disappeared. Not to mention some family and friends who also lost a substantial amount. I’d certainly be interested in pursuing something. Just don’t really know how. Let me know, thanks.
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