Replies to post #110606 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[boatman]

wdhotcakes,You don't have seperate shares.You have one average price.Like if you had 100 @ 8 and 100 @ 10,your average is 9.
What broker do you use?Most of them average for you.

[Bayou Man]

Hi wdhotcakes, On Etrade it gives a choice as I have put below. I had selected tax lots when I 1st setup my account a year ago. I bet it is very easy for you to setup online. GLTY


Your Account Preferences indicate that you'd like to choose offsetting lots during order preview. To do so, please use the Tax Lot Selector. If you do not specify offsetting lots, lots will be selected on a First In, First Out basis.

Date Opened Opening Price No. of Shares No. of Shares for Sale

06/09/2009 0.125 40000

06/10/2009 0.169 40000

06/11/2009 0.2001 10000

06/12/2009 0.12 60000

06/12/2009 0.1598 10000

[Upstart]

Yes! Choose off setting lots...If you can't figure it out you don't need to be trading..imo gltu

[ilenes]

Your broker should be able to help you specify which shares you want to sell, but that is usually done for tax purposes really (for example, if you had purchased shares in May '08, December '08 and May '09, you might elect to sell your May '08 shares since those would represent a capital gain vs. the others which are short term gains currently).

On your tax schedule, you total purchases together and sells together, so that if in this calendar year you spent $10,000 on SPNG purchases and netted $25,000 from SPNG sells (long term together and short term together), you would have a $15,000 gain, regardless of which shares you had remaining.

This is a crude explanation, but I hope it helps!