RE: RE: RE: L2 Could be a tax loss. Maybe family members using the same broker. They still want to keep the stock because they are diehard optimists, while at the same time triggering a tax loss. Lets say the stock was bought at 4 cents, so that's approx $50,000 of losses for this year.
This is the only way to sell as there are no buyers on the market depth book
Another option is, sell next year after the fate of Futura is known and carryback the loss to 2012 and get a refund. No need to go through this block trade.
Or can use Income Tax Act --Section 50(1) and say that Futura is dead and then can deduct all losses in 2012. No need to do a block trade.
So what's up? Doesn't seem to be a tax loss related transaction.