Independent Film Development Corp. (IFLM)

[AvantGarde]

I used to think the same thing, but apparently that rule only applies to Canada investors. According to the IRS, you can still sell today and have it count as a loss for your taxes. It's stated in their Publication 550 - which my broker referred me to. Look at their quoted example below:

You sold stock on December 30, 2016. According to the rules of the stock ex-change, the sale was closed by delivery of the stock and payment of the sale price in January 2017. You received payment of the sale price on that same day. Report your gain or loss on your 2016 return, even though you received the payment in 2017.

https://www.irs.gov/pub/irs-pdf/p550.pdf

https://www.irs.gov/forms-pubs/about-publication-550

Unless I'm missing a revision to their publication, you should be able to sell today for a tax loss if you are a US investor.