Entest Group Inc (ETNI)

[ronrooster]

Just reread the tax implications re the Zander dividend shares.It appears to me that there would be no capital gains or federal taxes on the sale of Zander shares.Am I correct?
Herman Pettegrove, attorney at law, who acted as special legal counsel to the Company in regards to this distribution, opined that no gain or loss will be recognized by, or be includible in the income of, a U.S. Holder as a result of the Distribution; The aggregate tax basis of the Shares distributed and Entest securities held by each U.S. Holder immediately after the Distribution will be the same as the aggregate tax basis of the Entest securities held by the U.S. Holder immediately before the Distribution, allocated between the Shares and the Entest securities in proportion to their relative fair market values on the date of the Distribution. Distributees should consult with a tax professional with regards to the tax impact of this distribution