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overachiever

08/20/08 5:13 AM

#44797 RE: Wayne R #44796

Assuming the dividend is paid (and that is a big stretch given this company's and other Lumb companies history of not paying dividends they have announced) it will be paid by FFGO, not the mysterious "Goldco". FFGO is supposed to get the stock from Goldco and then give it to their shareholders...at least that is the current story. It would therefore fall under US rules.

All of this discussion is pretty much academic in nature. In the past, Lumb has claimed that the US divis were paid, but held "on book" for the shareholders during their 3 year restriction period. It is more or less like, "Hey, you have it, but you just can't see it right now. I'm holding it for you". In the case of his UK distributions, well, they just disappeared altogether. Shareholders in neither country have ever seen a dime's worth of benefit from his nonsensical dividends.

Lumb is bad news.



Drink The Kool-Aid of Subpenny Scams. Eliminate your tax liability on capital gains! No money made, no taxes paid.