[slightly offtopic] Dear John [betcha hate to get another note starting with these words <vbg>] Elie, Chris & all - Chris has said the crucial things, but Elie, being an experienced person myself, the writeoff can be tricky if one is strictly by the book. One has to ascertain the year in which a co has become defunct. So, for example, if one has a sec in one's acct for the past 5 years and it is proven it is no longer of value 2 years ago, strictly speaking, it should be written off retroactively. In a way, if one is to ask for the cert to be included with one's tax records, then, yes, one may have to pay mo $ to one's broker to get it <G>. Normally, a letter from one's broker stating there is no trading of the writeoff security would suffice.
Back to EXSO, I agree with Chris. I ve been involved in pennies far worse. While it is not an endorsement for EXSO investing, it is a cautionary note that the penny arcade is strictly that. Any hope for a buck can quickly turn into a bust! Caveat Emptor
Warning label <g>: I am not a tax accountant, I just play one in this instance. And tax rules may be changed and subject to interpretations
Warning label 2 <g>: invest in EXSO is the leading cause of broken ribs <vbg> as well as broken bank account <VBG>
rgds Bosco |
