Ben Ezra Weinstein (BNEZ) Message Board

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Microcap & Penny Stocks : Ben Ezra Weinstein (BNEZ)

BNEZ 0.00

Sep 18 5:00 PM EST

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To: E. Davies who wrote (9262)	3/13/2000 7:19:00 PM
From: Leroyt	Read Replies (1) of 9391

Eric, I don't believe your method of accounting is correct. I'll check my own statements and get back to you. Until shares are sold I don't think you need to change gains or losses only the allocation of the basis. That is, say your original BNEZ purchase was at 20 cents and the four spinoffs are valued at 0.5/Bnez share. Therefore, your basis in BNEZ is reduced to 18 cents and the basis for the new shares is 0.5 cents time 10 = 5 cents. I think we got 1 shares of each spinoff for every share of BNEZ. This new basis is used in gain/loss calculations made after the spinoffs were issued. JMHO for now: I'll check with my accountant. later, leroyt

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