Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[old_timer99]

marketbear, the stock liquidated was TMM/QBID shares. Any transfer of TMM/QBID assets or cash to QTN would become a QTN asset. Therefore, QTN would have to report the transfer as income and pay taxes accordingly. QBID/TMM would have to define the transfer as a loan, or some other kind of liability. The problem is, an audit would reveal it was TMM stock proceeds. That would be a fraudulent transfer and tax evasion.