$Bed Bath & Beyond (BBBYQ.US)$ copied from x Something hasn'...

Something hasn't sat right with me since $BBBYQ became 20230930-DK-Butterfly-1, Inc, as of 21st September 2023 according to the 8-K filed.

This isn't a normal company name, it's a date, David Kastins initials and randomly the word butterfly. I think I've worked out what's going on.

We are witnessing a "butterfly transaction"

A butterfly transaction is a way to divide up assets in a corporation, or a set of corporations, in a tax-efficient manner under the Income Tax Act. These kinds of transactions typically involve rollovers under section 85 of the Income Tax Act which allows a taxpayer to transfer property on a tax-deferred basis to another corporation. When drawn out on a sheet of paper, the overall corporate reorganization tends to look like a butterfly.

Source cowanandcarter.com/2021/12/03/the…

This is it. Buybuybaby will be absorbing the NOLS through a butterfly transaction, thus preserving shareholder rights. This company is the vehicle to achieve this whilst detaching from the previous entity and all directors.

This is used for Canadian taxpayers to reorganise their business affairs, anyone know a Canadian activist investor who was interested in $BBBY?

Canadian thanksgiving is Monday 9th October, let's see if Teddy makes thanksgiving great 🦋