Bullboard - Stock Discussion Forum Orbite Technologies Inc EORBF

Metals & Mining Aluminum Industrial Metals & Minerals

Orbite Technologies Inc is a Canada-based mineral-processing and resource development company. The firm is organised into the following segments; Specialty Products, Waste Monetization and Commodity Minerals. It produces alumina, silica, hematite, magnesium oxide, titanium oxide, smelter-grade alumina, rare earth oxides and rare metal oxides. The operation plant is based in Canada.

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Post by simcpoirier on Jun 30, 2020 9:14am

Question

Does anybody know when Orturd will be desolved ? I still have shares in this turd. When will they be removed from my portfolio ?

Thank you !

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Comment by riskybznz on Aug 18, 2020 9:42pm

I'm sure you've already figured it out by now, but my understanding is that you have to call your broker and tell them you want them removed. They treat it as if you are gifting the shares to them, so there is no financial exchange. You can claim the loss on your taxes if the shares were held in a Non-Registered Account.

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Comment by notmuchmore on Sep 11, 2020 5:08pm

Regarding gifting to take a tax loss is very interesting. My brokerage firm, Fidelity, apparently never heard of that. Could you share more details?

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Comment by notmuchmore on Sep 11, 2020 5:39pm

I found this published by the IRS (United States taxpayers) at https://www.irs.gov/faqs/capital-gains-losses-and-sale-of-home/losses-homes-stocks-other-property/losses-homes-stocks-other-property-1: "Question I own stock that became worthless last year. Is this a bad debt? How do I report my loss? Answer If you own securities, including stocks, and they become ...more

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Orbite Technologies Inc