Replies to post #194937 on Fortress Financial Group fka FFGO

[SevenTenEleven]

If I write down my FFGO shares say for next year, (assuming we will all still be here then) will I still own the shares and hold them in my account? - Dich

Short answer is "NO". You will forfeit your ownership of those shares. The market maker that issued the electronic marker (book entry) for them will be able to close out his position and get them off his books.

It is possible that position is a short position. Which in all essence, allows the market maker to close out his short position, and cancel the risk that goes along with it.

Good Luck!

[medchal]

To be blunt about it, notwithstanding replies to the contrary, the short answer is, "Yes, of course."  Declaring a loss for tax purposes is not dependent on your broker doing anything.  You should be asking a real tax professional this question if any sizable amount of money is involved.  Some of the "advice" you get here is extremely distorted, to say the least.

You should also ask that professional when to declare the loss, and be sure to tell him that the stock was revoked in 2011.  This might save you inconvenience down the road a year or two.

[puppydotcom]

You guys can argue about IRS write downs all you want, but I don't see that it has relevance to anything at the moment. But I do have a related tax question for any of you tax guru's.

you're 100% correct ..

it has zero bearing on anything here

its a tax issue .. only

everyone still owns the worthless shares

again .. its some who are trying to cover for FFGO failures by consistently throwing out meaningless BS rumors and wild speculation - of good things to come

just like fantasy Corp action taking place by Etrade - and all the pro FFGO supporters jumped on the bandwagon .. until it crashed

just like the Sate of Wy will save share holders

Just like the blame being placed on the fantasy short

not one single pro FFRGO rumor, fantasy , excuse maker - has ever been correct in regard to anything involving FFGO

Not One ..

there is no divvy coming .. ever

there is no NSS issue in FFGO .. never was

no one cares what anyone does with their shares

its over for FFGO shareholders

FFGO is gone

No one will ever hear from FFGO ever again