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Tax Questions..
so most ppl here follow the general rule of buying low then selling high. when the stock dips again, they would buy again. for tax reporting purposely, is this "buying low again" considered a reinvestment?
reason i ask is i sort of remember when doing my taxes last year with turbotax, for every sale transaction that I list, i would have to answer this question: were the proceeds from this sale reinvested?
what's the purpose of this queestion? if i answer "yes", does it mean that my proceeds from the sale will not get taxed (since i'm not actually using this profit money anywhere but reinvesting)?
this would explain why a lot ppl here have no problem with going thru many cycles of buying and selling. i had been thinking this would rack up a lot of broker transaction fees, and the amount of tax the seller has to pay during tax season...
you guys know what i'm talking about?
This is all we need to know =)
"The PhoneGuard promotional strategies will extend into Bieber's concert series and launch of new albums throughout 2011 and 2012, building brand recognition and conversion through social channels by leveraging the pop star's more than 33 million Facebook fans and 11 million Twitter followers."
http://www.prnewswire.com/news-releases/the-zimmerman-agency-public-relations-adds-new-phoneguard-account-125876073.html
sorry, i havent had a chance to read anything on this board all day until now. but can you guys tell me why i see posts here saying along the lines of "tonight's gonna be a good night"? i thought bieber videos are going public tomorrow (or at least after 12am). have the dates been moved up or something?? or ppl are celebrating early? lol
hmmm. i cant see the video. says "Video is private"...why???
Phoneguard on CBS News too
http://www.cbs12.com/video/?videoId=751030129001&lineupId=1143359274&play=now
I dont have sound here at work, and I do not see a news release date, so I don't know if it's an old video or new. Can someone watch/listen to that video and let us know?
Just search for "fox news phoneguard" on google
Phoneguard on FOX News
i found this at http://www.kptv.com/story/15059939/justin-bieber-and-phoneguard-inc-join-remember-alex-brown-foundation-to-launch-a-campaign-to-encourage-responsible-texting
looks like it did hit the new channel(s) here in the west and east.
Just search for "fox news phoneguard" on google, and you'll find entries for Fox News in Oregon, Omaha, Carolina
you are good and will make some $$$ in the upcoming days as long you have some shares of OPMG.
to see why everyone here is excited, read one of the stickies on this board, and you'll see the main points why...
I'm confused too. I think two days ago, right here on IHUB, i was looking at the quote for OPMG about 45 min after the closing bell, and I saw a special box (which i have never seen b4) on the screen saying "after hours trading" or something, and showed that the last trade took place at 4:37pm...
i was surprised too because I didnt pennies could trade AH.
haha busted! lol!
Correct, I'm in CA and can confirm what you just said for last week and today is accurate.
in that chart, what happened at the end of may, beginning of june, that caused that big drop?
I'm so excited!
I wasn't able to afford to purchase tons of shares like a lot of ppl here, but a large portion of what I have were bought at $0.030 a few weeks ago. So i've already more than doubled my investment.
woohooo! Cant wait for more good stuff coming up ahead!
wow. i'm a beginner trader and i enjoy learning all that you have shared in your recent posts
sooo...are we expecting to see GoCom shares in our trading accounts today? i've been checking my Scottrade every 15 min. lol
awesome!
shadow trader, i live in irvine.
yeah, never heard of qvc. what channel(s) is it on? maybe because i never flipped thru the channels in that range. haha
mr vegas, u should gather your tax documents and prepare for an audit. =P
i dont think the long-term capital gain rate is 3% for most ppl. it's 15%.
"
Capital gain income from assets held one year or less is taxed at the ordinary income tax rates in effect for the year, ranging from 10% to 35%.
Tax Rate on Long-Term Capital Gains
Capital gain income from assets held longer than one year are generally taxed at a special long-term capital gains rate. The rate that applies depends on which ordinary income tax bracket you fall under.
Zero percent rate if your total income (including capital gain income) places you in the ten or fifteen percent tax brackets.
15% rate if your total income (including capital gain income) places you in the twenty-five percent tax bracket or higher.
"
also here:
http://en.wikipedia.org/wiki/Capital_gains_tax_in_the_United_States
Same here..I never heard of qvc until i joined this board =\
Thanks. Yeah, as a shareholder, i just had to see some concrete info for myself as well..such as the product itself and how it's selling.
here are my opinions on the points you listed:
1) Right, i find it weird that they have a whole long aisle dedicated to mobile phones and accessories, but they did not place the Phoneguard product display there. Instead it was placed along the wall behind the info booth about 4 aisles away from the phones.
2) So by being BEHIND the info podium, anyone standing at the podium will block it. The display stand itself seems to be about 2' wide and 4' tall, kinda small i think.
3)Right, it would have been better if the employee knew more about the product, and also not share any humor that might leave their potential customer with a negative impression of the product. On the other hand, I don't think he's a phone salesperson, but more of a general employee manning the info booth and directing ppl where to find products and answer general questions.
4) As kenswift mentioned, Fry's is a huge superstore with hundreds of thousands of products, so expecting a random employee (especially if he's a non-specialist) to know more-than-general details of a specific product (such as new versions, feature comparisons b/t other competitor products, etc) is going to disappoint you.
JR's latest tweets
@fedx54 Yes, that's why I'm here.
(in response to:
Do you think you can sell this concept of Go800 and when I say sell I mean paying customers will there be paying customers)
and more! http://twitter.com/#!/JOHNRAFUSE
Anyone have a RAB thumbband they can give me?
http://maurykennedy.com/ExtremeNewsletter/VolunteerUpdateRABtourGetInvolved.asp
Those things are so cool, but a box of 10 requires a $25 donation, which my thin budget does not allow me to donate that at this time.
hey here's an idea though. we should have one person on this board make a donation (large enough to get us all a thumbband) to show our appreciation for the dnt-txt-n-drv campaign and phoneguard. then, he/she can sell us those for $1 each or so. Alternatively, we can all chip in (paypal the designated person) for the donation.
And i also found this:
http://www.wristbands-4-less.com/silicone_thumb_bands.html?gclid=CO-fp7nC3qkCFcnb4AodHAP9Yw
how about getting customized bands saying "OPMG!" or even "I'm rich!" for everyone, hahaha
i might have missed it on this board, but do we already know the record and ex dates for GOIG?
I visited Fry's yesterday...
and now I'm POSITIVE this company's stock price and the exposure of its PhoneGuard app will go up very soon.
so from hearing that Fry's has been carrying the original PhoneGuard product, i decided to go there to check it out. i visited the fountain valley store in southern CA. i went straight to the mobile phone's area in the store looking for the phoneguard display stand but i didn't see any. so i asked an employee, and he said "oh yeah, PhoneGuard, it's right over here", and he led me a few feet away to one of the store's information booth. no wonder i didnt see it...the phoneguard display was place right next to the booth, but the guy manning the booth was blocking it when I was looking around for it.
so i started asking him about phoneguard, how it's selling and if he knows about the new version (360) and when that's going to be available in the store. it's pretty funny what he told me. he said he and some other employees were just joking around and making fun of the product, but said that they were all surprised to see so many people come in and ask about it and buy it. he said he's impressed at what the customers tell him how they were using phoneguard. he said he and his coworkers now honestly think phoneguard is actually pretty cool.
he also answered my other questions: he didn't know about a new version coming out, but said they will definitely be selling them once its available. he said currently, there's quite a few people calling them and asking about phoneguard (the old version). finally, i told him that phoneguard has recently teamed up with Bieber to bring out the "dont text and drive" message, and he was even more impressed and said if this software is really that good, then it's no surprise.
so, that's why i think phoneguard is gonna be pretty successful. even ppl (just like the employee i talked to) that don't know anything about the new developments, promotions and JB stuff, are becoming believers of Phoneguard just from hearing about it from others.
just for that, i grabbed a few more shares at 4 cents. =)
NICE FIND!
"what happens when justin bieber tweets your press release"
Anyone see this?
http://blog.marketwire.com/2011/06/08/what-happens-when-justin-bieber-tweets-your-press-release/#more-1612
When it happens, you will wake up one day and see shares of GoCom in your account along with your current GOIG shares.
Who cares about what proportion shareholders are getting??
I think the big question is how much Ike/John thinks GoCom is worth as an independent company. This is the valuation of the company. Divide the valuation by the number GoCom shares that they are planning to offer, and we will know the price of each share. Now with some examples with numbers, it's going to look scary...
Using some very rough numbers...
Lets say right now GOIG has a total of 4,000,000,000 (4B) total shares, and each share is worth $0.001. This means GOIG is valued at $4,000,000 (4M). Now lets say Ike/John decides that GoCom is a $2,000,0000 (2M) company. So if they also decide that one share of GoCom is going to be priced at $0.001 (same as GOIG share price), then this means the GOIG:GoCom share ratio is 2:1 (meaning you will get 1 share of GoCom for every 2 shares of GOIG that you currently own).
So here's the scary part:
If GOIG shares become totally worthless after the spinoff of GoCom, all you have left of any value are your GoCom shares. In essence, you have just lost 50% of your investment, ALL BECAUSE IKE/JOHN HAD DECIDED THAT GoCom IS WORTH HALF OF GOIG. Along the same line, if Ike/John had decided that GoCom's valuation is at $1,000,000 (which is 1/4 of GOIG), then you have just lost 75% of your investment. So again, what we should all be asking is how much Ike/John thinks GoCom is worth.
So my point and concern is why is everyone worrying about the GOIG:GoCom share conversion ratio? That shouldn't be the main concern. Ike's use of the term "proportionate" already implies fairness relative to all shareholders, given that the proportionating process is done correctly and by the books.
For example, lets say you're a huge investor and own 40M shares of GOIG. That means you own 1% of GOIG ($40,000), and will own 1% of GoCom. Again, assuming the share price of GoCom is also at $0.001, you will get 20M shares of GoCom (20M x $0.001 = $20,000), not 40M because GoCom's valuation ($2M) is only half of GOIG's valuation ($4M). In this case, you can see that the GOIG:GoCom share ratio (AKA the "proportion") is 2:1.
On the other hand, if they decide that the share price of GoCom is $0.05, then you will get 400K (400K x $0.05 = $20,000) GoCom shares. In this case, the share ratio becomes 50:1. But guess what? You still own 1% of the company. Money-wise, you still only have a $20,000 stake in the $2M company. You did not get any richer or poorer if the valuation of GoCom is unchanged.
Now, for some optimism, say they think GoCom has a $3M valuation. Your 1% ownership of the company translates to $30,000 of the $3M company. If the ratio of 50:1 is kept the same, you will still get 400K GoCom shares, but each share is $0.075. (400K x $0.075 = $30,000). However, if the share price is kept the same at $0.05, then you will get 600K shares. (600K x $0.05 = $30,000). As you can see in both of these cases, the value of your investment has increased by $10,000, solely because GoCom's valuation has increased. It doesn't matter what the share price is, or what the GOIG:GoCom share ratio is. As long as it's proportioned fairly among the investors, all that really matters is what Ike/John thinks the valuation of GoCom will be.
In the equation below, if Valuation is kept constant, then:
A) Raising "Shares" will force the "Price" down
B) Raising "Price" will force the "Shares" down.
C) If we raise "Valuation", one or both of the other two variables will increase accordingly.
D) We should all be worrying more about what the Valuation will be, and hope that it will be as high as possible. The concern over the "proportionate" stuff is not relevant here.
Shares x Price = Valuation
all i know is that the name "go800" is not unique, since there are few companies using the same name for their services..
Look at this link:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=61533&tid=38355&mid=38355&tof=18&frt=1
Since the spinoff date is coming up very soon, within this month supposedly, how come no one's buying anymore GOIG shares right now? Since we're getting GoCom shares based on the proportion of GOIG shares that we currently own, wouldnt it be a good idea for ppl to grab in more shares if they can? If it's a bad idea, then why?
How do we "get" the new GoCom shares after the spinoff takes place?
I use Scottrade, and I have GOIG shares in my account right now. So when the spinoff takes place, I would wake up the next day and see shares of GoCom in my account next to my GOIG shares? Everything is automatically handled by the online broker and no user action/authorization is required from me?