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Microcap & Penny Stocks : Anything Internet Corporation (ANYI) -- Ignore unavailable to you. Want to Upgrade?

To: David L. Wasylenko who wrote (207)	3/26/1999 2:05:00 PM
From: Hockeyfan	Respond to of 1570

Taxes? I don' pay no stinkin' taxes! You had better check with your tax guy and BANY through Scott Sitra. Unless the tax basis of the ANYI shares is zero, moving them and replacing them with cash would be tantamount to a sale and early distribution, which would bring early withdrawl penalties, unless you are over 59.5 years old. You might be able to argue that since the shares are not trading right now, they are worthless and you can transfer them out and pay the penalty on $zero. I think the IRS would argue that BANY wouldn't have gone from 25 cents to over $1.00 without dividending 200,000 ANYI shares and keeping 800,000. Usually the value of spun-off shares are determined on the first day of trading, but I am not sure if the price used is the opening price or the closing price. In ANYI's case the two prices should be drastically different. ************** If the new symbol is ANYC I will have to get the webmistress to change our title.