Replies to post #107580 on Titan Medical Inc (TMDIF)

[lightrock]

Which entity specifically is the one holding the consequences ?

Just because say a holding company is owning a U.S. based company does that automatically extend its public interest ? Or does that stick with the exact entity listed on the exchange(s) that issued the equity.

I suspect unless something is transferred more explicitly that this is not done yet. Something else to check

[Rollgard1]

Geo.....


S-26 is a good starting point on latest Prospectus Supplement filed on June 8 2020. Being a US citizen and filing using Market to Market for trading I think one is covered.I have bought Canadian companies before and never had any questions from accountant as Market to Market is used.

I agree with your thoughts and share them.Any thoughts on AGM upcoming and announcement date? Thanks

https://www.sec.gov/Archives/edgar/data/840551/000115752320000886/a52232457.htm

[scalpel]

My understanding, from my accountant (who checked with a nationally-known tax lawyer) once a PFIC, always a PFIC. That means we have to continue filing form 8621 and declare a QEF every year.

Regardless of what happens, this will always be taxed as short term capital gains in the United States, regardless of how long you’ve held. Hence my dream that we get bought out in a share-for-share transaction.

This is how I have been playing it for the last several years. As Geo said, check with your own financial folks and don’t take my word for it…