TruthArchive.ai - Tweets Saved By @PlatnumSparkles

PlatnumSparkles
Posted - January 23, 2024 at 6:24 PM
Saved - January 23, 2024 at 7:41 PM
reSee.it AI Summary
I experienced a 100% realized loss, but there is a silver lining. I can deduct up to $3k per year in losses, and any excess can be carried over. The Plan admin authorized the deletion of shares with no future payments. Brokers processed the 'worthless' corporate action, resulting in a realized loss. This happened in September/October 2023. [Link to post: https://x.com/hwdbeachgirl/status/1749120511236358184?s=20]

@PlatnumSparkles - Platinum Sparkles

It's a realized loss of 100%. People can deduct up to $3k/yr in losses, over $3k they can carry over losses. The Plan admin authorized the DTC to delete all the shares, and guaranteed no future payments. Brokers processed the 'worthless' corporate action, it was then a realized loss... this was Sept/October 2023 https://x.com/hwdbeachgirl/status/1749120511236358184?s=20

@hwdbeachgirl - hollywoodbeachgirl

@PlatnumSparkles I see the confusion-this article explains it a lot clearer. Investopedia is discussing the fact that if a company is bankrupt you can take the deduction as opposed to an “almost worthless “ stock you don’t get the deduction. It’s still 3,000 over gains. https://thelawdictionary.org/article/how-do-you-report-capital-loss-on-stocks-from-companies-that-went-bankrupt-and-went-away-like-enron/

How Do You Report Capital Loss on Stocks from Companies That Went Bankrupt and Went Away? Like Enron? Equities generally offer better returns than bonds, money market accounts and other low-yield, interest-bearing investment vehicles. This is because they thelawdictionary.org
PlatnumSparkles
Posted - November 5, 2023 at 2:22 AM
Saved - December 6, 2023 at 5:09 AM

@PlatnumSparkles - Platinum Sparkles

@JeffSamson51 #bbbyq @sunnycorax this was the other day - they're still doing everything according to the plan https://t.co/yDLI2NVUOd

Video Transcript AI Summary
In Chapter 11 cases, out-of-the-money equity is often canceled because equity is always paid last according to the absolute priority rule in section 1129(2). In this case, the debtor's plan does not fully pay unsecured creditors, who are projected to receive only 2.5¢ on the dollar. Therefore, equity cannot receive anything. The appellant's argument that their equity interest should have been returned to the debtor before being canceled is based on a misunderstanding of the Chapter 11 process.
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Full Transcript
Speaker 0: As this court is aware, stop held by out of the money equity is routinely canceled in chapter 11 cases. And this is of course because equity always gets paid last under the absolute priority rule codified in section 1129(2) And under the debtor's plan, unsecured creditors aren't getting paid in full. Again, under the disclosure statement, the projections are the general unsecured creditors will only receive at That's 2.5¢ on the dollar. So based on this equity can't receive anything. Appellant's argument that their equity interest should have So, on how been returned to the debtor prior to being canceled is based on the fundamental misunderstanding of the Chapter 11 process.
PlatnumSparkles
Posted - November 20, 2023 at 2:31 PM
Saved - November 20, 2023 at 2:50 PM

@PlatnumSparkles - Platinum Sparkles

@sboho @PhantomBlack699 How would that change anything now? Distributions are being made in accordance with the plan https://t.co/tlHaeG2vyq

PlatnumSparkles
Posted - November 20, 2023 at 1:54 PM
Saved - November 20, 2023 at 2:41 PM
reSee.it AI Summary
Secured creditors can use credit bids as currency in auctions. June and July auctions concluded with Overstock and Dream on Me acquiring IPs. Dream on Me will retain its name and also operate as BBBY LLC.

@PlatnumSparkles - Platinum Sparkles

A credit bid is for secured creditors to use their secured claim as currency in an auction. The auctions were in June & July and we already know the outcomes. Overstock and Dream on Me acquired the IPs. Dream on Me is keeping their name and using the Buy Buy Baby name in addition - therefore the BBBY LLC

PlatnumSparkles
Posted - October 10, 2023 at 3:02 PM
Saved - November 17, 2023 at 6:59 PM
reSee.it AI Summary
Retailer RC has been sold, but it is returning money to BBBY. However, RC still has some unsold assets. The February deal did not result in any dilution. Good news for GMERICA as the BuYouT is on its way. Bankruptcy is unlikely, and RC intends to acquire BABY with involvement from Ichan. Stores will remain open, and Sixth St will make a credit bid. Shareholders need not worry about their shares being cancelled. The plan may change before confirmation and the effective date, but there will still be something left for shareholders. Expert Market will not be involved. Stay tuned for updates.

@PlatnumSparkles - Platinum Sparkles

RC sold but was giving money back to BBBY❌ RC didn't sell it all❌ Feb deal was no dilution❌ GMERICA: The BuYouT is CoMinG❌ No chance of BK❌ Ch11 is good❌ RC wants to buy BABY❌ Ichan is involved❌ They’re keeping stores open❌ Credit bid by Sixth St❌ Shares won't be cancelled❌ There will be a different plan❌ It’s not going to Expert Market❌ It will come out of Expert Market❌ The plan will change before Confirmation❌ The plan will change before the Effective date❌ Even though the plan didn’t change, there will somehow be something left for shareholders❌

PlatnumSparkles
Posted - November 8, 2023 at 12:53 AM
Saved - November 8, 2023 at 8:22 PM

@PlatnumSparkles - Platinum Sparkles

@FinTwitHotTakes @sboho Anyone can file a claim, they'd need to submit proof too. I don't think it's legit, and hopefully it's not bc that would be more debt

PlatnumSparkles
Posted - October 18, 2023 at 5:13 PM
Saved - October 19, 2023 at 5:15 AM

@PlatnumSparkles - Platinum Sparkles

BBBYQ Update: CUSIPs are being removed from brokerage accounts. Robinhood & TDAmeritrade have both removed them all. You may need to call your broker to get them removed in order to claim the loss. Fidelity renamed it to "BED BATH AND BEYOND COM USD0.01 *EXPIRED POSITION*" today.

PlatnumSparkles
Posted - July 5, 2023 at 5:35 PM
Saved - September 7, 2023 at 4:26 AM

@PlatnumSparkles - Platinum Sparkles

They're blaming @Computershare. She said it takes too long to get confirmation of DRSd shares, too long for shares to leave Computershare to get sent there for people to sell, and they don't get their monthly reconciliation reports fast enough

PlatnumSparkles
Posted - July 5, 2023 at 5:35 PM
Saved - September 7, 2023 at 4:25 AM

@PlatnumSparkles - Platinum Sparkles

I'm not sure what to think, since Transfer Agents are bound by strict requirements(since the 70's) that include turnaround times for processing and prompt responses to inquiries. According to Computershare's FAQs they complete the transfer the day after the request:

PlatnumSparkles
Posted - July 5, 2023 at 5:35 PM
Saved - September 7, 2023 at 4:22 AM

@PlatnumSparkles - Platinum Sparkles

In an unprecedented move, Mainstar Trust sent letters to their DRS'd $GME holders telling them they no longer offer DRS and they're un-DRSing people's shares. Mainstar is one of the few custodians that would DRS IRA shares. I called to get more information.

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