That's right, 1 for 12. And right again, the reverse split, which is done already as of yesterday, won't have any effect on the distribution or distributed shares.
Buzzy did also warn vgid shareholders that they should expect a reverse split of vlnx so we wouldn't run out and buy a bunch of vlnx and step in front of that mess. Out with the old in with the new. In about 19 more days vlnxd will change to $LOFB. Sometime between now and then I expect a cusip number to show up in my e-trade account and then there will be a six-month restriction from that point.
I have a question for the board, particularly those of you who went through the Fernhill spinoff. What was the first trading day for your shares which I assume establishes the base for tax purposes? Was it the day the cusip number landed in your account or the day the Restriction came off. Or might it be like in this case, the first day that vlnx became Leaf of Faith which was yesterday where I know there was at least one trade at $0.70 because I was the one who made it not knowing if that might establish the base at 70 cents at least. Or perhaps your brokerage account established the base or starting point or the price you paid!
I know, a lot of questions and then I know also there is a long complicated way of establishing the base which also affects the base for vgid. It matters because if $0.70, for instance, becomes the base then I could or you could sell your shares for $0.70 and pay zero taxes, that is if my assumption is correct. Any thoughts please.
