RE: RE: PSN/ONR tax issues Yes I'm confused by your calculations. However, rather than try to re-invent the wheel I think you should follow what ONR and PSN put out on their website for guidance. BTW that`s where the $2.29 adjusted cost base for new ONR comes from.
https://poseidonconcepts.com/_pdfs/2012-02-17-Poseidon-Tax-Implications.pdf
In your rather eviable situation (if your old ONR cost is $1.80). I would say if you sell your new ONR shares, your taxable capital gains is still whaterver price your get for ONR less $1.80. At today`s ONR prices you can have a capital loss!!
I would say your PSN adjusted cost base is zero. If you sell your PSN shares for, say $15.00, the entire $15 is taxable capital gains with $7.50, or 50% of it, is subject to whatever applicable tax rate you are under. (Please consult some tax expert to see if they agree with this treatment).
Small price to pay for being so successful with ONR and PSN.