Replies to post #13766 on Enterra Corp (ETER)

[Wolff]

In my case it was 7000 for 0. they gave me a company
called contra enterra corp isin us293cnt9944.
excuse me charlie but i think you lying.
wolff

[integral]

Notice the CEO gave himself $7 million in stock for a $492,000 transaction? He better be prepared to pay taxes in 2015 on the difference.

The stock was quoted/trading at $0.70 cents at the time of the transaction for a valuation of $34,400,000 in exchange for $492,000 in assets.

The transaction does not qualify under US Code 368 nor US Code 356.

Therefore, he gets to pay taxes on $33,948,000 in 2015.

Hopefully he has the cash, the IRS will be paying a house call, no certified letters in the mail on that amount.