Replies to post #993 on Corix Bioscience Inc. (CXBS)

[integral]

Determining cost basis on inheritance of stock is always fun(NOT), but different than a shareholder of a company receiving an asset distribution in the form of shares of another company.

In the end, the valuation that Parilla used is wrong, and should be challenged. You received shares in a shell corporation, it has no value. Get help before December 31, 2014, so you wont have to pay any taxes. If you wait until next year, you might get stuck paying for it in 2015 and getting it reversed in 2016. You don't want assets held up for a year because of these morons.

This on the other hand will not end well for Parilla. It also made me look into AFFW again, as I have not looked in awhile. Their 10Q, they screwed the pooch.

[Dolphins88]

If you inherit the stock You get the stepped up basis

On the day you take ownership. If the person gifted the stock to you before they died then you assume their original stock basis. This has nothing to do with AFFW unless of course you're inheriting your position from someone else, but it does show you why it's much better to inherit long held highly appreciated stock rather than having it gifted to you. The more important question, and the one I don't have an answer for yet is what exactly AFFW is dropping into the new Affinity Medical Corp? What kind of valuation is on the assets coming in? What kind of revenue or Earnings numbers will it have. If they can show us that they're dropping in a valuable asset then even at 8.00 this stock could be cheap, or the opposite, even at 1.00 it could be expensive. The rumors I keep hearing sound very exciting, so I'm just crossing my fingers. This AFFW stock could make my whole FRTD stock experience worth the trouble if it all plays out, and I'm sure that's true for many other FRTD investors as well. If you hear anything about the assets coming in please post it. As far as your tax questions I'd advise doing what I did and call your CPA. Taking tax advice off the internet can sometimes be about as good as taking stock advice. LOL