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Microcap & Penny Stocks : MTCI - Will it live out the year ??? -- Ignore unavailable to you. Want to Upgrade?

To: WalleyB who wrote (1299)	7/22/1999 12:19:00 PM
From: _Highlander	Respond to of 1336

Just checking this corpse to see what's happening and you have my sympathies... Personally, I sold out last year (or was it '97?) at a .11 (cent) profit on several thousand and decided not to double up when it fell. There was talk back then that the American branches would reconsolidate and still make a go of it, but it appears to have been snapped up as a money laundry... That's the in thing for the past dozen years, you know. If you need a good front, buy the shell of a previously respected company and fill it with your toxic waste.

To: WalleyB who wrote (1299)	7/22/1999 12:36:00 PM
From: _Highlander	Read Replies (1) \| Respond to of 1336

Just checking this corpse to see what's happening and you have my sympathies... Personally, I sold out last year (or was it '97?) at a .11 (cent) profit on several thousand and decided not to double up when it fell. There was talk back then that the American branches would reconsolidate and still make a go of it, but it appears to have been snapped up as a money laundry... That's the in thing for the past dozen years, you know. If you need a good front, buy the shell of a previously respected company and fill it with your toxic waste. To site a few others that have gone this route, look at the 3-year histories of firms like CRTM(UVEW)<Curtis Mathes>; FTCFQ<Freuhauf Trailer>; or TCHP<Telechips>. These are stocks that only five to ten years ago resided in the $20-$40 range and are now, in most cases, worth less than paper! Money can be made if you buy for a penny and sell for a nickel, but it is risky business. Fact is, these firms used to be delisted once they went banco and closed their doors. These days, someone is buying dead horses and selling the skeletons sight unseen as live animals...

To: WalleyB who wrote (1299)	7/22/1999 1:30:00 PM
From: Martin Olsen	Respond to of 1336

tax loss... It is my understanding, WalleyB, that if you declare a stock a total loss and take the loss on your taxes, but the stock comes back, and you eventually sell it, the entire proceeds from that transaction are then capital gains (ie, your cost basis is zero). However, the point should be moot, since you probably "sold" the shares (at like .001) they are no longer yours anyways. I plan on taking my loss this year. Another painful reminder of how easy it is to get scammed by these crooks...

To: WalleyB who wrote (1299)	7/22/1999 3:31:00 PM
From: TLWatson59	Read Replies (1) \| Respond to of 1336

How much could your liability be between the last sale indicated at one penny and what you claimed as a total loss? Before you ever declare a stock purchase a total loss to the IRS, you should first call your broker to verify that there is no bid for the stock and check with the transfer agent to see if the company filed for bankruptcy. In any event most reputable brokerage firms for a minimal charge will buy the stock from you and provide you with proof of sale so you avoid this kind of situation. We all learn lessons in life. Some cost more than others.