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Microcap & Penny Stocks : DCTC - DCI Telecommunications
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To: kphone who wrote (4445)2/10/1998 6:13:00 PM
From: george eberting  Read Replies (1) of 4489
 
Calling all accountants: Consider this idea. The suggested sale of CardCall Canada may bring in mega-bucks. Presumably most of the payment will be in the form stock of the acquiring company (SMTK?) If the SMTK shares are sold and a cash dividend is distributed to DCTC shareholders, we are faced with double taxation. That is, DCTC would have to pay taxes on the gain, and the shareholders would have to pay taxes on the dividend. Not an ideal development.

THE QUESTION: If DCTC were to distribute some of the newly acquired shares in (SMTK?) directly to DCTC shareholders as a dividend instead of cash, would DCTC have to pay any taxes on the shares distributed, or just on the ones not distributed and eventually liquidated?
George E.
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