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To: May Lee who wrote (29891)12/21/2001 12:12:51 PM
From: hdl  Respond to of 29970
 
u can sell it. u can take a loss. the commission will be high relative to the money u get for the sale and low compared to the tax loss. it is unlikely the stock will ever be worth a whole lot, but depending on litigation, etc. it may go up a lot percentagewise from current levels. $500 for my advice or as a christmas present would be much appreciated. fact u lost money in the stock is irrelevant to my fee. but i do feel your pain.



To: May Lee who wrote (29891)12/21/2001 3:22:40 PM
From: nghi vu  Read Replies (1) | Respond to of 29970
 
you don't need to actually sell. I have been involved in 2 bankrupted companies a few years back and never sold the shares. Just have to tell your CPA they are worthless and they will take care of it. You can tell your CPA and they can recorded as "zero" and collect your loss without actually having to sell. Even if you don't use a CPA, you can record the sale date as "today" and write down the proceed as "zero" with a footnote that the company is dead. No need to actually sell anything and waste paying any commissions when there is no need.



To: May Lee who wrote (29891)12/22/2001 12:57:25 PM
From: appro  Respond to of 29970
 
May Lee, Call your broker and explain what you want to do. My broker offered to simply waive the commission on a similar situation a long time ago to get worthless shares off my monthly statement. Sorry about your loss and good luck