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Don't worry, I've got this all figured out, whatever the PPS at the critical times.
I can read and understand tax laws just as well as a CPA.
You can only delay a tax payment, that's due in April, with late-fee penalty attached. But like I said, even with the penalty, one might still be dollars and shares ahead if the PPS is much higher by the Oct extension date.
I think you're doing a smart thing. I'm 60, so it makes sense for me as well, as the rules are a little more favorable for people over 59-1/2.
But really, everyone should consider this move, if they truly believe Anavex will be worth more than $3B in the future...even if they would have to pay additional income tax, the following year, on the converted shares sold to pay the conversion tax (by not waiting 5 years).
Yes, for 2016 tax year. I'm expecting the PPS to be at least $8 by April 15, but if not, I can either re-characterize some or all back to Traditional OR decide to file an extension AND delay my decision/pmt to Oct. Even if I have to pay a late-fee penalty, I should still be $$$$ ahead. That latter option just occurred to me thanks to an earlier post.
I did my conversion a year ago at $3.50...
I plan on paying the tax with both principle shares and converted shares. Yes, I'll have to pay some income tax (next year) on the converted shares, but will still be $$$$$ ahead.
Correct...
An extension doesn't allow one to delay any taxes due. If one stays with the conversion, the tax would have had to been paid in April, or a penalty would be applied. However, now that I think about it, even with paying the penalty, one might still be ahead share wise. Hmmm, something to ponder further, depending upon the PPS before April 15th.
It's not a matter of tax rate predictions; it's purely a matter of the total amount of tax payments over the remaining years of one's life. I'd rather pay a one-time conversion tax on, say, a $600k valuation than pay income taxes each year on withdraws and Required Minimum Distributions of 6%+ on $10M or more in a Traditional IRA. (assuming Anavex reaches a valuation of at least $4B, which shouldn't be a problem)
Yes, but if you decide to stay with the conversion, the tax pmt is still due by April 15th (18th this year), whether you extend the filing or not.
I did a conversion a year ago at $3.50 and will decide by April 13th whether I keep with it or re-characterize some or all back to Traditional. I'm 90% confident that I'll be able to keep with the conversion and gladly pay the big tax hit this year... my last tax payment!
Buying dips... smart move!
I think the next two days will be very interesting, between the sustained substantial volume and the $7.5 Call activity. Everyone grab your popcorn and take your seats.
There's no question 2-73 succeeds; the question is how much?
We're in good company! This will send a signal to the market!
Though I get your meaning, in no way are we the definition of "activist investors". That would be the likes of a Karl Icahn or Bill Ackman... ones who join boards to affect the direction of the company.
Now would be a good time to start forwarding Anavex information to Tom Price and other overseers of the NIH and Cares Act. What a wonderful opportunity for the first drug to be 2-73 and the resulting anticipated outcome! Feathers in caps all around!
FYI, I just sent a string of tweets to the NIH Director...
Francis S. Collins
@NIHDirector
Sent the same tweets to Tom Price...
Tom Price, M.D.
@SecPriceMD
Feel free to do the same!
Resting at 5.95, before the next leg higher...
AXON's stock price reaction speaks for itself. This is no surprise from a drug that has failed before... "In this interim analysis, these secondary endpoints did not demonstrate statistically significant differences for nelotanserin relative to placebo."
Agreed... I suspect savvy institutions, which normally don't invest in small biotech until P3, are getting in early due to the inevitability.
touché!
He can say it because he knows his trials are being funded.
...and with the data and evidence provided, to this point, there's not much risk to the speculation. For a biotech stock, this is equivalent to a short putt to win big; miss and still win. It's not like there's a chance the drug doesn't work AT ALL. With the bar this low, the odds for success are extremely high. The question is, how WELL does it work? Even if it's only slightly better than the SoC, given its safety profile, it's a big winner! Let's say it only helps with symptoms: depression, agitation, insomnia and mood. That, too, is a winner.
Given what we know, this is as much of a "riskless" biotech investment as you can have. Extremely unlikely to lose any money; rather, it's a question of how much you'll gain and how quickly.
How much does one bet at the poker table if you know that your competition has nothing, while the worst you can do is a pair of Aces?
I think you meant "some SORT of a PR"...and you may be right.
We should flood Tom Price's email with Anavex information and... a hint about how good he'll look with a "first-pitch home run"!
Perhaps the twisted, lying short games are over and we can finally focus on the fundamentals. Too many positive catalysts forthcoming to allow the bull shit to continue. Hold tight!
Thanks, Xena. With volume holding relatively strong and short interest diminishing, it does seem that a short attack is not in the cards...at least in the near term. Any pullbacks should be inconsequential and temporary.
Xena, with the RSI, Stochastic and MFI all topping out, one would normally expect a pullback near term. Does the elevated OBV suggest otherwise...or at least, not substantial or lasting? Also, with catalysts coming, that might also keep the shorts at bay as the risk is too great for that play.
All comments welcome...
A well phrased retort...
Shorts cover by bidding.
Not when you know you own the golden goose!
I don't. Missling has as much said that he's looking and waiting for the right opportunity to maximize shareholder value.
I have a feeling that Missling has already been offered $3B ($75/sh) and said, "thanks, but no thanks"...
Missling is saying AU is funding its ALZ trial, if you (FDA) want a trial in the US, then find the money.
Believe me, it's all grants... no significant dilution.
Your thinking is clear.
Both... the one selling the put is collecting a nice premium and won't mind owning (more of) the stock at $5 if that should (doubtfully) happen. The one buying the put is likely buying protection against a long position. Both are smart.
I bought the majority of my shares on 4/9/15 at an equivalent post-split of $1.08. I estimate my avg to be around $1.70. Holding!