Replies to post #91019 on Cotton & Western Mining Inc. (CWRN)

[Sunnybank]

Well, it’s been an interesting time of late in OTC. I’m still sitting on 900k shares. Any and all relief would be a godsend. Happy New Year.

[JohnCM]

Re: Cotton and Western Mining CWRN

Curious what the "reinstatement" will accomplish.

My best guess is that we have past shareholders, or others, behind the scene who have been involved with CWRN.

They needed to reinstate the shares so that some kind of follow-up action can take place.

I will check with my CPA but it may be possible to zero out holdings at a 100% loss. Just need to grab the cost basis.

Even at this point, as yet, I do not believe Fidelity can wash out my position. I think I will go ahead and take the loss for 2022.

My basis could have been anywhere from $0.001 to $0.25
$0.10 X 34,200 = $3,420 long term capital loss.

[JohnCM]

Per fidelity

The shares have not been deemed worthless as yet.

When they are, the shares can be deleted from your brokerage account and your CPA can see about taking a total tax loss based on your cost basis.