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Thanks for all your DD Patsy. Gotta get ready to go to work now, but thought I'd check here before I did. What is your opinion on whether or not the distribution is taxable? In my account, it wasn't indicated as a dividend, it was indicated as "return of equity". They squeezed out .83/share, gave it to us, then took it out of the price of the stock. I don't see why we would have to pay tax on it.
The problem is that this was not a dividend. In my account, it qwas not stated as dividend. It was stated as "return of Equity". That's what it was. Not a dividend at all. They simply took .83 off the price of the stock and gave it to you in cash. Whoever wrote the PR for OPHD should be shot! This was anything but a dividend. It would be ridiculous for anyone to have to pay tax on money money that they already put into the stock. I'll talk to my accountant about it, but a dividend is a per share amount that you receive, but the price of the stock doesn't go down proportionatly. Take GE. They provide a quarterly dividend, but the stock price isn't effected from it.
This was selling off assets, and simply providing us with the proceeds. Because the stock price was decreased by the same amount, no tax is due. Our equity in the stock by decreased by exactly the amount of the distribution.
This is the biggest mess trying to figure this out!
Boy you are lucky bonzi_guy. This entire thing has me so confused. I certainly would have sold and bought back if I'd known that. The rules of the game for dividends should be much clearer. Actually, in my account, this was not referred to as a dividend, but rather "return of equity". I don't think you even have to pay taxes on it because it really isn't a dividend. E-mail Patsy @ patsyw@vallnet.com and she will send you the info. She has gone for the day and requested that anyone who wants the info, to send her an E-mail.
One thing is for sure on DCTG, the MMs are trying to discourage buying. The spreads they keep on this! Will just have to wait and see.! Have a good one!
Pretty good day today. have a great night everyone.!
Just bought a little of your favorite IFAN. Level II looks good. Someone is buying it up a little at a time!
As the song goes, those were the days! Boy were they ever!
Geez, that's quite a purchase. Hopefully, you can sell some today. I made some off it as well last yeat, but nothing like you did!
HCEN, being accumulated @ .13 and .14. Adding more myself.
See ya patsy. looking green all over today.
You have 200K shares of CTDH? When did you get them? It hasn't had any vol. or quite some time.
Yep, I think I have 50K shares or somewhere there abouts myself. Looking good, but as usual they'll wait until they have next to nothing let befote they let it go.
LABN, 1.19x1.21 Patsy. Let the buying begin!
Perhaps, but it looks like its already run. Good for someone who got in this morning for sure!
joejo, ATCM has a very low float. If you have Level II, sometimes the bid/ask change with no volume. Amazing!
I think you mean BMII.
AGLFE goes Chapter 11.
Wednesday May 2, 12:09 pm Eastern Time
Press Release
Atlantic Gulf Communities Filed a Voluntary Petition Under Chapter 11
SUNRISE, Fla.--(BUSINESS WIRE)--May 2, 2001--Atlantic Gulf Communities Corp. (OTCBB:AGLFE - news) announced today that it filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code on May 1, 2001 in the United States Bankruptcy Court for the District of Delaware. Included in the filing were voluntary petitions for several affiliates of Atlantic Gulf. The entities that own and operate West Bay Club in Naples, Florida and Chenoa in Aspen, Colorado were not included in the filings.
Atlantic Gulf also said that it had entered into an agreement with Ahern & Partners Advisors Co., Inc. to serve as its Restructuring Advisor to assist the companies in formulating a plan of reorganization and to negotiate its approval with all creditors and related parties. Patrick M. Ahern of Ahern & Partners Advisors Co., Inc. has been appointed President and Chief Executive Officer.
Ahern said the filings were made to allow for the timely implementation of the restructuring agreement Atlantic Gulf reached with its senior secured lenders before the filings and to protect the continuing development and completion of West Bay Club and Chenoa. Ahern also announced that Atlantic Gulf and its senior secured lenders had entered into an agreement for the lenders to provide debtor in possession financing, subject to the approval of the Bankruptcy Court. He said, ``This new financing will enable the Company to operate and continue to fund the development of West Bay and Chenoa while it completes its restructuring.''
Atlantic Gulf is a developer and operator of luxury residential real estate communities. Its stock is traded publicly over the counter bulletin board (AGLFE).
--------------------------------------------------------------------------------
Contact:
Atlantic Gulf Communities Corp., Greenwich, Conn.
Patrick M. Ahern, 203/661-2223
patsy, did you add more COMM today. I'm with you, eventually this has to explode. Tons of accumulation in the low 20's.
ATCM, boy making up lost ground on this one. Bought @ 1.70 last Friday, ws halted on Monday, opened down so I averaged down. Bought more in the 1.40's and 1.30's yesterday and today. Now 1.75x 1.85! I'm gonna hold.
Boy BWAYE is up pretty good today. Perhaps filing is within sight.
Not in, but looks good. Already at the high of the day, so don't know.
HCEN, basing very well @ .13/.14. I'm accumulating. .28/sh in cash, and .32/sh book value. Chart looks good and so does level II.
Glad to see you here creamrising. You've added some insights to the board. Don't be a stranger!
The problem with HITT is the insiders are selling. I always look @ the insiders listing before buying anything. Another lesson learned from the past!
Yep, sometimes you have to learn the hard way. We were both in one previously, so we know better the next time!
Yep, sometimes you have to learn the hard way. We were both in one previously, so we know better the next time!
AMJY now AMJC will probably be .10 or less this time next week. R/S is like the kiss of death.
Remember you deciding on whether or not to average down on MNX. Glad you did now!
I agree Patsy and for a NSADAQer the O/S and float are low which should help fuel the fire.
Toshac, I averaged down on KWNK @ .08 and .09. Looks like it has bottomed. My average is now about .14 I think. Averaging down is the only way to go IMO.
Agreed. I'm buying more of the crushed NASDAQers right now. Many could rebound to over $1 and not get delisted.
I think the OTCBB will only get better, but there are many with huge O/S and debenture conversion, that IMO will not rebound. Stocks like AMJY/MFLE/NRES/ARYN/IFTP etc. just have too many shares.
Some volume is coming in, but only in certain issues. The # of issues in the OTCBB to even look @ has dwindled so much.
Got 75K of ATEG at .011. Took 15 minutes to fill. Amazing. Looks like bottom to me!
A few are waking up a little, but the volume on most is still too low.
ATEG, got a bunch @ .011. Look @ level II!
I've been in and out of it myself for a few spins.
Hi creamrising. Yes I post on RB, but not like I used to. Same RB name as here. I have all of the ones you mentioned on my watch list. Don't currently own any though.
I have them on my watch list. They have the 'E' though, and they are NASDAQ. Not a good sign.
patsy, I re-entered HCEN. They have .28/sh in cash, and book value of .32. Not bad for .12x.13. Very stable. Earnings are due out on 5/15 as well. Could even be a buyout candidate.
level II looks good too. Great bid support.