NV SOS filing dated Aug 28, 2018. Someone on iH
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Posted On: 08/31/2018 11:17:32 AM
NV SOS filing dated Aug 28, 2018.
Someone on iHub irresponsibly posted the link below before the open today with a comment "Reverse Split filed on NV SOS" without stating the details.
This caused panic trading into the .0002 by people who could not possibly have considered the full implications of what they were doing as all were selling for a loss - without checking the tax implications for short term gains / losses, actual long-term gains / losses, disallowed losses due to wash sales etc.
What the document actually shows is 1:500 reduction in the shares with a par value of .00001 (13B > 26M) and no change to the shares with a par value of .0001 (75M).
Also, of the 13B previously authorized, only 7,240,764,887 were outstanding on August 24, 2018.
I - along with many others who were trading this stock repeatedly throughout Q3/Q4 2017 - will already have banked significant profits on $OTTV during surges that came on the multiple updates.
Personally, I never panic sell just because others do.
At this point we do not know if the SEC will approve a reverse split for common share holders - if / when they do an announcement will be made on EDGAR.
If it does go ahead, I will be holding through the reverse split - as I usually do for any as low as 1:500 or 1:1000 - and then trading new shares from the bottom up. I can then also take advantage of short / long term losses for tax purposes on higher cost basis legacy shares in a carefully considered manner later at the short > long term transition date as that is worth a lot to me annually. I take tax savings into account when working out what each individual ticker owes me over multiple years.
I think we can expect the company to ramp up their PR efforts as the volume in the market comes back in after Labor Day and into Q4 and there will undoubtedly be profitable trading opportunities ahead from the new bottom up.
https://www.nvsos.gov/sosentitysearch/corpAct...OUP%2c+INC
Someone on iHub irresponsibly posted the link below before the open today with a comment "Reverse Split filed on NV SOS" without stating the details.
This caused panic trading into the .0002 by people who could not possibly have considered the full implications of what they were doing as all were selling for a loss - without checking the tax implications for short term gains / losses, actual long-term gains / losses, disallowed losses due to wash sales etc.
What the document actually shows is 1:500 reduction in the shares with a par value of .00001 (13B > 26M) and no change to the shares with a par value of .0001 (75M).
Also, of the 13B previously authorized, only 7,240,764,887 were outstanding on August 24, 2018.
I - along with many others who were trading this stock repeatedly throughout Q3/Q4 2017 - will already have banked significant profits on $OTTV during surges that came on the multiple updates.
Personally, I never panic sell just because others do.
At this point we do not know if the SEC will approve a reverse split for common share holders - if / when they do an announcement will be made on EDGAR.
If it does go ahead, I will be holding through the reverse split - as I usually do for any as low as 1:500 or 1:1000 - and then trading new shares from the bottom up. I can then also take advantage of short / long term losses for tax purposes on higher cost basis legacy shares in a carefully considered manner later at the short > long term transition date as that is worth a lot to me annually. I take tax savings into account when working out what each individual ticker owes me over multiple years.
I think we can expect the company to ramp up their PR efforts as the volume in the market comes back in after Labor Day and into Q4 and there will undoubtedly be profitable trading opportunities ahead from the new bottom up.
https://www.nvsos.gov/sosentitysearch/corpAct...OUP%2c+INC
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
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