re: "delisting," you're correct that the term technically only applies to the big boards,
but you knew what i meant, yes?
and i'm going to keep using it below for convenience...
re: shorts covering in bankruptcy,
i know several traders who held their shorts until cancellation
to have zero buy-back cost
at which point, yes, they needed to pay taxes
on the profits several years earlier.
but with delisting to gray sheets
all the shares still technically exist
but are impossible to trade,
thus there is no need to ever close the short position
and thus no need to ever pay taxes on the opening short sale winnings
unless the ticker starts trading again some mythical day.
to point, with mikp,
any usa traders holding open short positions into the delisting to grays
weren't able to buy shares to cover their positions,
either the day after the delisting
nor presently
unless the moved the share to an canadian account
just to close it out.
but why would they if they don't think mark will ever get his act together?
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