It appears that some here are confused on the process to trade your Nasdaq Listed BNTC shares, I'll explain to the best of my knowledge, please correct me if I've got some of the detail incorrect
Firstly you'll need to open an International trading account, I've applied through Commsec and they use a service provider Pershing LLC to trade international shares. Also you need to complete a W-8 form, this is a document required by the U.S tax authorities and is used to declare tax status. A valid W-8 form allows foreign investors to claim concessional tax treaty benefits, including a reduced rate of withholding tax. Generally, a valid W-8 form will remain in effect for 3 years.If you do not have a valid form on file, any payments (e.g. dividends and sale proceeds) credited to your International Share Trading account may be subject to a withholding tax of 30% under US tax law. This means if you sell at a loss you'll also be smashed with a 30% tax payment, good incentive to have completed the W-8. Before anyone can trade, we all need from the US share registry ownership paperwork so that this can be passed / transferred to your chosen broker e.g. Commsec From your broker trading account you can then transfer monies into your new International trading account, basically an FX transaction that has commissioning and rate of the day, Commsec do this twice daily as the FX fluctuates constantly
From my observations of the share price in the US, we hit $14USD recently ($22AUD) which is somewhat better than our recent experiences in the ASX, Hopefully we will see a significant value rating when this transfer to the Nasdaq if finally completed. Bring on some much needed news.....we certainly could all do with the good variety
Hope this helps someone
BLT Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
