Recent

% | $
Quotes you view appear here for quick access.

Neurocrine Biosciences Inc. Message Board

ochsnerbier 77 posts  |  Last Activity: Apr 8, 2016 3:11 PM Member since: Feb 25, 2004
SortNewest  |  Oldest  |  Highest Rated Expand all messages
  • Reply to

    Conference Call

    by ochsnerbier Mar 9, 2016 1:52 PM
    ochsnerbier ochsnerbier Apr 8, 2016 3:11 PM Flag

    Desperately seeking a market? MRV announces joining the NTCA-Rural Broadband Association, which to me says Tier 2 and Tier 3. I'll take anything Mr. Bonney that will bring in revenues. Customers who don't buy anything except units for evaluation really aren't customers. Nice rise today, however.

    Ochs

  • Reply to

    Cancellation of Debt

    by ronharv Apr 6, 2016 12:08 PM
    ochsnerbier ochsnerbier Apr 6, 2016 4:34 PM Flag

    ron,

    Where did you see the part about subtracting Line 20T from CODI? TIA.

    Ochs

  • ochsnerbier ochsnerbier Apr 2, 2016 6:03 PM Flag

    I am not saying that I will try to evade the taxes, just looking for an out. In my case $54K in reportable income for absolutely nothing just plain sucks.

    Ochs

  • ochsnerbier ochsnerbier Apr 2, 2016 5:41 PM Flag

    Thanks for replying rkane. I am going to call an "insolvency CPA" and ask the question of what to do with CODI in a limited partner situation. You are probably right, but someone who doesn't have to pay taxes on personal debt that was forgiven seems more at fault than we are.

  • ochsnerbier ochsnerbier Apr 2, 2016 3:49 PM Flag

    I admit making a mistake in investing in Linn, but my thesis that SA and OPEC would cave and oil prices would recover was simply wrong. So be it. " You pays your money and you takes your chances." The issue of CODI, however, is completely different. It is simply unfair to unitholders and there has to be a legal way around it. I am going to file an extension and pay the same amount of taxes I paid last year to avoid an underpayment penalty. Both Form 982 and Form 8082, both cited in Linn's K-1 package to unitholders, seem to hold promise. There have got to be CPAs or tax lawyers who specialize in this sort of thing and an extension will give me six months to explore options. Unitholders are LIMITED partners. There should be more guidance coming from Linn on this issue.

    Ochs

  • ochsnerbier ochsnerbier Apr 2, 2016 3:03 PM Flag

    rkane,

    On Page 2 of the K-1 under line 11 other income (loss) Code E, the reporting instructions cite Form 1040 line 21 or Form 982 Reduction of Tax attributes. Any hope there? If Linn is technically insolvent and declares bankruptcy in 2016, it seems as if the problem for us as unitholders is a matter of timing i.e. if they declared bankruptcy in 2015, I don't think we would be facing this CODI problem. The forgiveness of debt by lenders obviously indicated their concern over whether Linn was a viable company when their assets were severely impaired by the crash in oil prices. Obviousy, the losses in value of their oil and gas assets haven't been recognized yet, but they everyone knows the losses are real. The reduction of the amount banks were willing to loan on the two redeterminations in April and October clearly reflect that. What do you think?

    Ochs

  • Reply to

    Form 8082

    by xcpa20022002 Mar 28, 2016 1:08 PM
    ochsnerbier ochsnerbier Mar 31, 2016 4:17 PM Flag

    You are a complete jerk! I am trying to engage people on this board like Kane and excpa, who actually know something. Of course, what would you know about that? The answer, absolutely NOTHING. Just keep spewing, you are one sick puppy.

    Ochs

  • Reply to

    Form 8082

    by xcpa20022002 Mar 28, 2016 1:08 PM
    ochsnerbier ochsnerbier Mar 31, 2016 4:02 PM Flag

    I am probably grasping at straws, but during the two semiannual redeterminations by banks (Apr and Oct, I believe) they sharply reduced the amount they would lend to Linn because of a drastic fall in the value of Linn's underlying assets. Obviously, since the assets were not sold in 2015, there is not a recognized loss, that could offset the CODI, but there is a loss number one could come up with that has some rational basis. It seems so fundamentally unfair that unitholders are not only getting wiped out in terms of their investment, but they have to pay tax on income never received. There has to be some way to ameliorate the situation. I am surprised some CPA firm specializing in the oil patch has not figured out a way around this and reached out to MLP unitholders.

    Ochs

  • Reply to

    Form 8082

    by xcpa20022002 Mar 28, 2016 1:08 PM
    ochsnerbier ochsnerbier Mar 31, 2016 3:36 PM Flag

    In the K-1 instructions, they say CODI goes either on line 21 of the 1040 or Form 982 (Reduction of Tax Attributes Due to Discharge of Indebtedness). Is this applicable even though Linn hasn't filed Chapter 11? As xcpa noted, an argument could be made that Linn is already insolvent. Anybody think that will fly? It seems like a timing issue for unitholders. If Linn had declared Chap 11 in 2015 would we not have been liable for CODI. TIA.

    Ochs

  • ochsnerbier by ochsnerbier Mar 30, 2016 4:29 PM Flag

    "The company has engaged advisors to assist with a private restructuring or reorganization under Title 11 of the U.S. Bankruptcy Code in the foreseeable future, which raises substantial doubt about its ability to continue as a growing concern" Another one bites the dust.

    Ochs

  • Reply to

    Form 8082

    by xcpa20022002 Mar 28, 2016 1:08 PM
    ochsnerbier ochsnerbier Mar 29, 2016 4:55 AM Flag

    Are you suggesting that you are going to file Form 8082 and use your lower COD number based on actual debt forgiven, then file an amended return when they file bankruptcy erasing the COD? I wonder how long it would take the IRS to examine your valid arguments. Any idea? Thanks.

    Ochs

  • Reply to

    What Is Going On ?

    by brhoy2002 Mar 4, 2016 10:45 AM
    ochsnerbier ochsnerbier Mar 28, 2016 4:18 PM Flag

    I think cooky that Neurocrine is just part of the biotech beatdown. The political, populist ire over high drug prices has really hurt. This may not be resolved until after the election. JMHO.

    Ochs

  • Reply to

    Conference Call

    by ochsnerbier Mar 9, 2016 1:52 PM
    ochsnerbier ochsnerbier Mar 28, 2016 4:15 PM Flag

    Hi ravery. I think Bonney tells a slightly different story each time. Two conference calls ago he was saying that MRV did not have the scale to compete for Tier1's and that their "sweetspot" was Tier 2's and Tier 3's. Last call he seemed most hopeful on their revolutionary product that was being tested by a Tier 1 and was dismissive of the "sweetspot" players as very slow to adopt 100G. The consistent thing he says is that they keep adding customers for their Opti products and are up to 85 as of the end of the year. The problem is that all these "customers" really aren't adding to revenue. It is true that there is an adoption lag for customer testing and evaluation, but this has taken too long IMO.

    Ochs

    PS: I owned Oclaro for a while and got out at $3.20 two or three years ago. Alain, the previous CEO, wasn't very impressive. Good for you that it has come back.

  • Reply to

    Form 8082

    by xcpa20022002 Mar 28, 2016 1:08 PM
    ochsnerbier ochsnerbier Mar 28, 2016 2:35 PM Flag

    xcpa,

    I looked up Form 8082 and as you know has to do with inconsistent treatment and I guess you disagree with the information that was provided by Linn on the K-1 and want to present different numbers in different places on your tax return. What items/numbers do you have problems with. TIA.

    Ochs

  • ochsnerbier by ochsnerbier Mar 28, 2016 9:42 AM Flag

    They are fighting again. Must have gotten bored over the weekend. How tiresome.

    Ochs

  • Reply to

    Another year gone by

    by qltypck Mar 23, 2016 4:04 PM
    ochsnerbier ochsnerbier Mar 24, 2016 2:35 PM Flag

    This is not meant to be confrontational, but why do you care rudy?

    Ochs

  • Reply to

    Anybody Have a Cork

    by ochsnerbier Mar 21, 2016 9:43 PM
    ochsnerbier ochsnerbier Mar 22, 2016 12:15 PM Flag

    You are an idiot and everyone else on this board knows it. Where is my post blaming investment decisions on others? Couldn't find one, could you?

    Ochs

    Ochs

  • Reply to

    Anybody Have a Cork

    by ochsnerbier Mar 21, 2016 9:43 PM
    ochsnerbier ochsnerbier Mar 22, 2016 10:13 AM Flag

    I dare you to find one message where I blamed others for my investment decisions. It doesn't exist. If the facts don't suit whatever demented argument you are making, you invent them.

    Ochs

  • ochsnerbier by ochsnerbier Mar 21, 2016 9:43 PM Flag

    opinionsarelike 33 needs one. When there are finally some substantive discussions about unit holder's tax issues with COD, he interjects with his very tired diatribes spewing mierda all over this message board. What a very SICK person.

    Ochs

  • Reply to

    Nedd help with k1 please

    by dlnoteware Mar 20, 2016 1:05 PM
    ochsnerbier ochsnerbier Mar 21, 2016 10:09 AM Flag

    Someone on this thread gave the correct answer regarding why the huge GAAP loss for Linn didn't help with offsetting the COD, because the GAAP losses were a result of non cash impairment charges to lower oil and gas assets. It is true that holders could get losses when assets are liquidated at a loss, but I don't see that happening. Unit holders will either be wiped out in whatever strategic alternative they come up with or unit holders would become shareholders if it morphs into a C Corp and losses would not be deductible at the personal level. We got hosed all the way around. JMHO.

    Ochs

NBIX
42.87+0.22(+0.52%)May 6 4:00 PMEDT