Replies to post #21769 on General European Strategic Invt's Inc (GESI)

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GESI~Yikes New lows today = Bid and Ask?
Bid = .0018
Ask = .0031

$0.0018 60,000 OTO 11:01:02
$0.0018 10,000 OTO 11:01:01
$0.002 10,000 OTO 11:00:52
$0.002 20,000 OTO 11:00:46
$0.002 80,000 OTO 10:36:53
$0.0022 100,000 OTO 10:15:55
$0.0023 50,000 OTO 10:05:04
$0.0023 30,000 OTO 10:00:26
$0.0023 10,000 OTO 09:59:49
$0.0023 50,000 OTO 09:58:54
$0.0025 10,000 OTO 09:55:26
$0.0026 30,000 OTO 09:55:23

[integral]

You have never heard of phantom income on 144 stock have you? Well, you will when the IRS reminds you of it. Usually that reminder comes with a recreation of ones tax returns including the declared income in the taxable year the income was to be reported. Fair market value was $0.02, but the purchaser paid $0.005 with a taxable gain in that taxable year.

When the purchaser sells the shares, if ever, the adjustment is made. The $0.015 is income, the gain on the stock subsequent to $0.02 is capital gains, or a capital loss.

Ask your IRS agent? Or just wait until you get a recreation of your return done for your by the IRS. Don't forget the penalties and interest.