Baxano Surgical, Inc. (MM) (TSON) Share Price

So do people get money from this?

Full report here : www.ded.uscourts.gov/sites/default/files/opinions/slr/2016/september/15-994.pdf

http://www.law360.com/articles/846344/bankrupt-firm-s-execs-can-t-dodge-breach-of-duty-suit

Yes, you should be able to being it ended trading. In a normal scenario, you would have to sell it to actually get the loss but this was a unique case. Liker the other poster mentioned, a max of 3k per year and if by chance you had more than that invested then you can carryover the remaining loss to the following year. If you still have it in your trading account (probably a numeric ticker as I have with etrade) call them and they should be able to clear it out as a worthless stock for you for no fee (at least Etrade does it that way).

You can still claim the loss even if you didn't sell -- the point is that the stock has to be worthless. Read this and consult a tax professional if you have any more questions:

http://taxation.lawyers.com/income-tax/tax-deduction-for-worthless-securities.html

One more question about tax loss

My position on Baxano was not closed...in other words...I didn't sell the shares for a loss last year. My understanding is that if you don't sell the shares by the end of the calendar year then you don't have a loss that can be deducted? But with the shares being canceled on August 12th, 2015, doesn't that make the investment worthless anyway? Can I claim a loss for last year in this scenario?

Thanks again for your help.

Mark it down as a loss on Line 13 of your 1040. You can claim a maximum of $3,000. The rest gets carried over to future years.

How do I claim a tax loss?

You mentioned about claiming a tax loss this year. How would you go about doing this? Secondly, why are we not able to claim a tax loss for last year? Weren't the shares canceled on August 12th, 2015 thus making our investment worthless? See note below from FINRA:

Attn: Trading and Market Making/Legal and Compliance/Operations/Systems
UNIFORM PRACTICE ADVISORY (UPC 20-15) 8/12/2015
Baxano Surgical, Inc. (BAXSQ)
Notice has been received that the above Company’s Second Amended Chapter 11 Plan
of Reorganization filed under Chapter XI of the Federal Bankruptcy Code, became
effective on 8/10/2015. Pursuant to the Plan, on the Effective Date, The holders of
Interests will not receive any distributions or other consideration on account of such
Interests. On the Effective Date, all Interests shall be cancelled, extinguished, and of
no further force and effect.

Yup. This is the Denver company that bought AxiaLIF and Vectre at last year's auction. They also bought rights to the old TranS1 name. Baxano shareholders will see no benefit whatsoever. Very frustrating.

http://m.mddionline.com/node/13500

Came across this, anyone know what it means? ( sorry if the answer is already here)

That's right. I'm claiming my losses this year. If by some crazy turn of events it comes back, you'll just have to record the gains in future years (little to no chance of this happening).

Tax loss?

Is there a way to show this stock as being a tax loss? For some reason, it still shows up in my account but not under "closed positions". With this stock being delisted, would that not imply that its a total loss of our investment? It can't be traded anymore correct?

Baxano is screwed.

Management sold every valuable asset to themselves under new names and declared a bankruptcy.


"But AxiaLIF now has new life under an old name. Snapped up at auction, AxiaLIF has become the lead product of a Denver, CO, medical device startup that also took the TranS1 name.

“It was on our radar prior to the bankruptcy,” Jeff Schell, CEO of the new TranS1, says of the device. “We knew that it needed to be preserved.”""

http://www.xconomy.com/raleigh-durham/2015/11/17/salvaged-from-bankruptcy-trans1-medical-device-finds-new-life/

The company that bought AxiaLIF in the auction has restructured under the Trans1 name. Doesn't affect what's left of Baxano at all.

Significant?

I was wondering why you posted the link to trans1. Has Baxano emerged as a new company? You seem to be abreast of what's going on much more than me! I appreciate your input and all the posts in regards to Baxano.

http://www.trans1.com

Limbo. They still owe $4M, which they more than likely can't pay if the business truly is ending.

So are shares cancelled or in limbo till this is sorted out.my account still showing them

Looks like final allowed claims is $4M, down from $19M a year ago, with no secured debt. This is actually really workable if they were to emerge.

http://omnimgt.com/CMSVol2/pub_46887/556658_668-2.pdf

Sorry to hear that I only had 5000 and paid 100 bucks lost track of them. company just go out of biz?

TOS no more shares :(
Had 250k..

Mine shows quantity but no value. scottrade

Mine still showing

Can anyone tell my why shares disappeared from my account??

Chapter 11 cases can drag on for years. Fortunately, this one appears to be basically done. Next step would be to let the liquidating trust pay back creditors with whatever's left (usually pennies on the dollar). You can take the tax loss next year. Just need to document for the IRS. The trust could end up with a clean shell that could be sold off. Shareholders could get something there, but the chances are remote.

What's taking so long?

As the other previous posters mentioned in regards to the shares still showing up in the account, mine does as well. What's going on? I thought mercifully we could show a tax loss this year, but are you anticipating this will take longer? Is there any chance these shares get converted into a new company?

Next hearing Dec. 1. Still going ...

Yeah, I still have mine also at Etrade.

My acct still shows the shares. Not canceled?

Not a whole lot.

What's up now garyst?

Your equity in Baxano was transferred to the liquidating trust, where it most likely will be wiped out. But, since the case is still open, brokerages haven't yet received the final word of what to do with the shares. I'm assuming shareholders will get a letter at some point once the deed is done. You can claim the loss next year -- but you must always prove to the IRS it is indeed a loss.

Tax loss?

I don't see a tax loss in my investment account. I still see the ticker symbol but no loss in the account. Do we need to call the broker?

My have no value also, I have a lost of $7.6K lost in my tax lot in Fidelity

Yep I have zero value ad well bit the ticker is still there

What happened?

I was one of the unfortunate ones who had some stock in this miserable company. In my investment account, it showed there was value left in the company until this morning. Does anyone else show in their accounts that it's disappeared? Can we at least do a tax write-off on this horrific transaction?

Still showing the value in my account but unfortunately I think we are done. The risk of playing companies that are in bankruptcy is that many times the shares get cancelled and unfortunately I think that came true here.

Lost? Man I felt bad about $100

That's what I want to know to, but most importantly what happens with my $4.2k I invested in this

So what happens now with the shares?

Mine too.

Still holding value in my acct

Check out sirgq next week q comes off fri maybe a RM check it out folks.

Time will tell.

Hoping :)

Same with Fidelity with an $1.3K

Lol we can hope.good luck dude

Mine on Etrade is now back to showing $890.00 again.

Yeah but my balance isn't zero it's still 1500 bucks

Mine too.