Portage Biotech Inc. (PRTG)

[Tex18]

I definitely am not a tax expert either, but I can’t see why a basis would be present otherwise. For “normal” stock transactions, it’s the amount invested divided by the shares bought to determine the pps basis, as you’re aware (apologies if that sounds demeaning, it isn’t intended that way). I think why a basis is present is due to the fact that portage gave 1 BHVN share per 22? PTGEF shares owned. On the date of the transaction, (I think) the broker determined the pps at the time of the “dividend” distribution and that became the basis.