Replies to post #67871 on DD Support Board and Research Team

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As I said previously, "one broke company buying another broke company".

Lets expand on that, a worthless shell company exchanging shares with another shell company at an inflated value. How can we determine value?

Lets see, I put oil based paint on canvas. After it dries, hang it in my friends gallery and put a $1 million price on it. Who buys it? Someone walks in and says they will pay $10 million for it. Is it really worth $10 dollars let alone $10 million dollars?

So they guy walks in with a napkin from Red Lobster and writes $10 million on it. He says he swears it is worth $10 million. I remind him that I swear my graffiti is worth $10 million. So we exchange my used canvas for his used napkin and call it a $10 million transaction.

So, how does the IRS handle this transaction? Anyone care to take a stab at this?

Parilla might want to get his hands on a great tax attorney.