ScripsAmerica Inc. (SCRCQ)

[coolerheadsprevail]

Pipedream 1, you are correct on your post.

He is nowhere near being correct, LOL... ...and just as with Santa Claus, the Easter Bunny, and the Tooth Fairy, simply wanting it to be true, hoping it is true, or believing it is true, won't make it true regardless of how many times you say it... ...the blind leading the blind is a story that rarely ends well...

A profit to MAV on a PIMD sale to MAV must be recorded by MAV when the cost of the item is lower than what MAV is presently paying. The difference in costs lowers MAV raw material cost and thus represents an increased profit to MAV

As stated previously several times, MAV and PIMD can record whatever the hell they want in their respective books -- but none of it matters because ALL transactions between these two related subsidiaries will be eliminated by SCRC.

and in turn to SCRC.

Possibly, but cannot say for sure w/o knowing other data points.

By rule, PIMD must sell the item at its own cost and this results in a wash-sale for PIMD.

Wrong. No such rule exists. PIMD is free to charge whatever it wants to MAV, be it a nickel or a bajillion dollars. Makes ZERO difference.

Wrong again. It is not a "wash-sale" (to use your term) for PIMD. It is wash-sale for SCRC at the consolidated reporting level. The reason it results in a "wash-sale" for SCRC is because all affected accounting entries that were made by BOTH Main Ave and PIMD are required to be eliminated when SCRC prepares its financial statements.

I hope this clears up the DD.

No comment, LOL...