Verify a Dead Investment

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Tooth
Posts: 144
Joined: Sun Mar 28, 2021 3:41 am

Verify a Dead Investment

Post by Tooth »

I invested in a private business with play money and I believe it is now out of business. The last update from the company was in 2021. The company is Prima-Temp, a company involved in making a device to monitor core temperature remotely to predict optimal time of fertility in females. I 've been searching for an answer and I see they still have a website and automated phone still works but for messages only. In addition social media has not been updated since 2021. Previously they made an acquisition of a company called Kindara that had a online community and that seems to be dead and posts on reddit appear to indicate that their app no longer works. How can I verify if the company is no longer in business? The reason is to use it as a capital loss as I had a small amount of private equity. I'm not sure if I can as I can't sell it.
RudyS
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Joined: Tue Oct 27, 2015 10:11 am

Re: Verify a Dead Investment

Post by RudyS »

Google turned up a detailed explanation of what to do with worthless securities, but I didn't find a useful answer. If you want to pursue it, here's the link: https://fairmark.com/investment-taxatio ... ecurities/
Topic Author
Tooth
Posts: 144
Joined: Sun Mar 28, 2021 3:41 am

Re: Verify a Dead Investment

Post by Tooth »

RudyS wrote: Sun Feb 11, 2024 3:24 pm Google turned up a detailed explanation of what to do with worthless securities, but I didn't find a useful answer. If you want to pursue it, here's the link: https://fairmark.com/investment-taxatio ... ecurities/
Thanks. Looks like I need to determine when the investment became worthless or just claim I abandon it.
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tetractys
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Location: Along the Salish Sea

Re: Verify a Dead Investment

Post by tetractys »

Tooth wrote: Sun Feb 11, 2024 2:32 pmHow can I verify if the company is no longer in business?
The state of registration would have the contact information. Why not leave a message?
Topic Author
Tooth
Posts: 144
Joined: Sun Mar 28, 2021 3:41 am

Re: Verify a Dead Investment

Post by Tooth »

tetractys wrote: Sun Feb 11, 2024 4:27 pm
Tooth wrote: Sun Feb 11, 2024 2:32 pmHow can I verify if the company is no longer in business?
The state of registration would have the contact information. Why not leave a message?
I've called and left an email without reply or human contact. On Google search it says temporarily closed.
nassau34
Posts: 37
Joined: Sun Oct 01, 2023 5:03 am

Re: Verify a Dead Investment

Post by nassau34 »

deleted - in hindsight I was off topic.
Last edited by nassau34 on Mon Feb 12, 2024 11:26 am, edited 1 time in total.
bberris
Posts: 2394
Joined: Sun Feb 20, 2011 8:44 am

Re: Verify a Dead Investment

Post by bberris »

You can try to arrange a private sale for $1. There seem to be lots of arrangements for marks who bought now worthless NFTs.
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