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sotbuster

08/02/22 9:56 PM

#95523 RE: TonyJoe1957 #95522

Any distribution of cash to shareholders would be a dividend not a share purchase, so capital gains tax basis is irrelevant. Besides that, any distribution would need to be authorized by UnifiedOnline, Inc. which is controlled by Billy. Otherwise UnifiedOnline is free to spend the Chanbond money as it deems appropriate.

The point is that capital gains/loss basis for UOIP stock is irrelevant with regard to any payment of lawsuit proceeds left over, if any. Not that we are going to see a penny in any case.

Consult an accountant for further information. As regards UOIP, this is an academic question.
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AISI304

08/03/22 11:15 AM

#95529 RE: TonyJoe1957 #95522

Only payout/gains is to the lawyers involved,
a fine Southern gentleman, and dear Deidre.

Not bothering with a write-off. It is a pittance
of UOIP. IceWeb went to the grave with Rob.