Weyland Tech Announces Further Information and Tax Treatment of Its Spin-Off of the eWallet Business
I am kind of surprised this has been ignored.
It sets the fair market value of the distributed shares at $0.0033 per WEYL share (or 1.7 cents for each WIP share).
This entire theater was over a $122K distribution (actually a bit less as some WIP shares are being kept by WEYL). They will likely pay more than that to execute this direct distribution (as opposed to sending the distribution to the registered owners as virtually every other public company does, regardless of the nature of the distribution).
As a side note, this also answers the question of what happens in the unlikely event there are not actually enough shares of WIP to go around due to FTDs. If needed the shares in margin accounts could be reimbursed at the $0.0033 rate.
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