InvestorsHub Logo
Followers 0
Posts 28
Boards Moderated 0
Alias Born 01/09/2021

Re: TonyJoe1957 post# 95522

Tuesday, 08/02/2022 9:56:19 PM

Tuesday, August 02, 2022 9:56:19 PM

Post# of 96905
Any distribution of cash to shareholders would be a dividend not a share purchase, so capital gains tax basis is irrelevant. Besides that, any distribution would need to be authorized by UnifiedOnline, Inc. which is controlled by Billy. Otherwise UnifiedOnline is free to spend the Chanbond money as it deems appropriate.

The point is that capital gains/loss basis for UOIP stock is irrelevant with regard to any payment of lawsuit proceeds left over, if any. Not that we are going to see a penny in any case.

Consult an accountant for further information. As regards UOIP, this is an academic question.

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.