Post by
general360 on Nov 04, 2020 2:37pm
cost basis
boy oh boy is it a mess....does anyone know what the cost basis of RVX and ZEN is?
from the spin out, looks like the shares left behind are all out of whack... i havent looked too closely - until now-
the zen capital corp vs zen capital corporation also seems to be throwing a monkey wrench into it. i just spent about 30m on the phone w/ broker, still not sure i fully understand but as per usual, my understanding isnt important! what is, is that the brokerage says everything is fine....
cost basis was explained as: post split = 1% rvx and 99% zen? so they took my shares, total price, allocated 1% of it to RVXCF and divided by total number of shares, giving me a new cost basis for RVXCF. looks like i was a mad genius and paid .02 to .04 cents per share back in 2010 and 2013. They took 99% of total price, divided by same shares and came up with some crazy #'s. the same lots of zen show up w/ a cost basis of $24 to 34$. im scratching my head cause i think these were bought in the $2/$3/$4 range...
also showing zhclf is trading. they think its correct, but i tried to explain the zen cap corp vs zen capital corporation but i dont think thats working. they think it's an epigenetics company in name so it must be right?!?! there are no assurances that i can get shares of this now, and eventually when someone figures the spaghetti out - will i still have all these shares in actual zen epigenetics?!? i guess the good news is i'm apparently so far under water based on their calculations, i'll lose money unless we sell zen for more than 34$/share. i'll have to play with the numbers and see who's who is da zoo...the zen FAQ doesn't help in this case i dont think. i asked if i bought a whole bunch of shares of ZHCLF now, when this gets untangled, will i still have shares in zen epi, or would it get unwound? the answer was there are no assurances. i'm not willing to lock up more money for YEARS more, but i wonder what would happen - buy this zhclf for 4 pennies when they're doing PP's for 1.50?
conversely, apparently i'm sitting on some very large paper gains since i bought this in 2010 and 2013 at MY TWO CENTS!!
is nothing easy w/ this company?!?!?! / companies??
the good news (MORE good news GENERAL?!) is that this isn't an issue until i sell. the bad news is that we're still held ZEN hostage since its not trading! kick the can down the road DM style and deal w/ it later, at sale/tax time... hey, that's an excuse, maybe DM is better off never listing ZEN so he doesnt cause us all this book keeping headache!! or dont make a RVX deal so u dont give us a large tax bill, or push the deal into the new year so ppl can put more into ur RRSP...
GET. IT. DONE.
Comment by
narmac on Nov 05, 2020 5:23am
g360,,,,,, this was discussed several times in past on the other board. Zen I think was ruffly 6 or 8% of the floor pricing at the time of the spin out. It may be possible to find that info off there or someone may remember it off hand.
Comment by
quest13 on Nov 05, 2020 8:47am
Zenith shows this valuation as Question number 9 on its FAQ page