Gold Reserve Inc V.GRZ

Tax Implications on the Award Collection ?

[ugluuak]

Will there be tax issues on the collection of the $1,1 Billion for Gold Reserve Inc.

Anyone have any detail on this ?

[slappyjo]

According to the company, after taxes, bonuses and CVRs, there will be about 75% remaining.  On 107 million fully diluted shares, that's about $7.70 net per share. The company still says they plan on distributing the bulk of it to share holders in the most economically favorable way.

[helpful1]

GEE that is a really nice return. I figure when it is all said & done GRZ is worth much higher than your $7.70 & a little birdie told me so. Note there was a 99% chance the court turns down Venezuela down it just took 6 months to happen. So,I counted us getting a favorable decision from the courts so all the creditors with a conditional Writ attached is smiling today.Next thing I am

[slappyjo]

I would like to see the math on how you arrived at $13/share. I'm assuming that's USD. At $1.1 billion USD gross, and with an outlay of 25%, your number isn't close.  And my $7.70 is best case as the company said they will retain a portion of any award and put it in the company coffers to continue operations.  That was several months ago so it's possible that might

[helpful1]

My number is Gold Reserve is owed $1.1 billion divided by approximately 100 Million shares is $10 USD X exchange rate of 1.3 is $13 Canadian. We also have a Brandes trust of $40 M frozen which we entitled too. So if Citgo sale brings in $12 B we should the above.  I did not deduct taxes whereas you did.How did you figure -25% taxes,expenses. We still have cah on hand & that amount go

[RIDER1975]

One reason I hope a high bidding price besidrs the back on the envelop math based on Citgos previous years figures is the fact that VZ intemsed to restrict the number of attached claimants. Really interesting weeks ahead.