Let me tell you what to do and recoup 20% of your original investment.
Just donate the entire position to your church. Call for the certificates from your broker and march em down to your local almamater.
Trust me, they all have done this 100s of times since the last market crash of Y2K. You get to take the entire original cost as a donation and score the 20% plus what ever else you wish to lie about.LOL! I have done it a few times with commission costs added. Smoke that IRS!
The only way to dump the shares into the open market is call your broker and beg they don't charge ya commission to sell. Then you only get to take $3k a year and roll the rest into the next. Suck on that scam, Uncle Sam.
I trade with Scottrade and have dumped dividend shares that were worthless. A stupid move looking back. I got sick of looking at them and asked to have them removed. They set a sell with no BID price and poof they were gone.
After the fact, it hit me that was a stupid move. Just let em sit. Shells do become reactivated and it doesn't cost you any thing to let em grow mold.
One I still own AFFL hit a 4,200% one day. Talk about an awakening.
Best thing to do is call your broker and set a high limit sell and forget about em.
Now if you really need the 20% then look into donating the shares. Hey, just like the Kidney Foundation that askes for your old cars arond tax time. It too, is a cool deal, You inflate the value of the car and get your tax deduction. Call em, I bet they have loads of free info on recieving stock.
Personaly, I'll just hold and wait out the future of this stock.
If you play pinks long enough, you too will accumulate a string on dead ones. To date I have 8 that are smoked. Nature of the beast.
Look at NHSH, a dead forgotten shell. Then Nov 8th or so some Joe comes in and guys 1M of the 1.34M shares and its a .51pps empty shell that trades a few shares every other day. Try living with donating those 100K.
Hope this helps all. Oh yea I'm full of it so check with your Broker. Last I hear almost 50% of Americans don't even pay taxes, so check first. It could be a waste in the long run.
