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Started By
Message
Unclaimed Funds Question?
Posted on 1/13/15 at 3:52 pm
Posted on 1/13/15 at 3:52 pm
So I found out that I've apparently got stock from when I was very, very young and all they were able to give me was the CUSIP number.. I wasn't able to find anything.
It's from a company called: "Detection Systems, Inc." and the CUSIP number is: "250644101"
A bunch of the searches required log-ins and accounts and such... I don't know anything about it other than the two people (Grandfather & Father) who would know about it have since passed away.
I've got to provide a death certificate and a whole lot of paperwork to 'claim' the funds. I'm trying to figure out if it's even worth the trouble..?
Thanks in advance, MT!
It's from a company called: "Detection Systems, Inc." and the CUSIP number is: "250644101"
A bunch of the searches required log-ins and accounts and such... I don't know anything about it other than the two people (Grandfather & Father) who would know about it have since passed away.
I've got to provide a death certificate and a whole lot of paperwork to 'claim' the funds. I'm trying to figure out if it's even worth the trouble..?
Thanks in advance, MT!
1
Posted on 1/13/15 at 4:55 pm to yankeeundercover
There is a company called Detection Systems, Inc, that was merged, in 2001, into a subsidiary of Robert Bosch GmbH. The CUSIP you provided was on a SEC filing for Bosch, so I'm sure this is it.
Between the time the company was formed in 1968 and the time it merged in 2011, it went through a number of stock dividends and splits.
Looks like the Bosch subsidiary purchased the stock at $18 per share.
Between the time the company was formed in 1968 and the time it merged in 2011, it went through a number of stock dividends and splits.
Looks like the Bosch subsidiary purchased the stock at $18 per share.
Posted on 1/13/15 at 5:02 pm to LSUFanHouston
What does this mean for "my" stock?
Posted on 1/13/15 at 5:09 pm to yankeeundercover
How old are you? If some bought 100 shares and then it split 3 times and then was bought out it could mean a lot. Depends on the number of shares initially purchased and the amount of times it spit and then dividends...
Posted on 1/13/15 at 5:19 pm to wickowick
33... The address listed in the system was an address from when I was <2 y/o
Posted on 1/13/15 at 5:20 pm to yankeeundercover
Do you have any idea when the stock was originally purchased and how many shares were originally purchased?
Posted on 1/13/15 at 5:21 pm to yankeeundercover
Also, does the state have the stock or does it have the cash? Usually they can give you a rough idea of how much money they have?
If you are real lazy, there are companies out there that will do all the paperwork and chase it down, for a cut of the money
If you are real lazy, there are companies out there that will do all the paperwork and chase it down, for a cut of the money
Posted on 1/13/15 at 5:24 pm to LSUFanHouston
I was told between 5 and 10... So nothing too crazy unfortunately.
Probably 1982-84?
Probably 1982-84?
Posted on 1/14/15 at 8:16 am to yankeeundercover
bump
Posted on 1/14/15 at 3:03 pm to yankeeundercover
Afternoon bump... paging LSUFanHouston
I found out it's 7 shares purchased OOA March 1983...
I can find shite using the CUSIP... Then again, I have no idea what I'm doing
I found out it's 7 shares purchased OOA March 1983...
I can find shite using the CUSIP... Then again, I have no idea what I'm doing
Posted on 1/14/15 at 3:39 pm to yankeeundercover
You never answered the important questions posed earlier in the thread. Does the STATE hold the paper? IE, is this listed in the state's unclaimed property database? Or were you contacted by a third party?
If the state has the funds, it's a pretty simple process. Go to their website, fill out the forms proving you are who you say you are, etc.
If the state has the funds, it's a pretty simple process. Go to their website, fill out the forms proving you are who you say you are, etc.
Posted on 1/14/15 at 3:44 pm to yankeeundercover
Stand by
Posted on 1/14/15 at 3:58 pm to yankeeundercover
You had 7 shares.
August of 1987 they did a 5:4 split. Now have 8.75 shs. I can't find where they paid cash for fractional shares.
Sept of 1991 they did a 8% stock dividend. So you now have 9.45 shs. They also did a fractional sh purchase @ 6.44 a share, so .45 x 6.44 = $2.90 cash. You now have 9 shs.
Dec of 1996 they did a 3:2 split. So you now have 13.5 shs. They did a fractional sh purchase @ 12.125/sh. .5 sh x 12.125 = $6.06 cash. You now have 13 shs.
Tender offer for all shares in Jan 2001 @ 18 a share. This would get you 13 x 18 = $234.
So, total, over time, you should have rec'd 2.98 + 6.06 + 234 = $243.04.
This is assuming the issuer sent cash to the treasury for all of those events.
You need to contact treasury and figure out exactly what it is they have.
August of 1987 they did a 5:4 split. Now have 8.75 shs. I can't find where they paid cash for fractional shares.
Sept of 1991 they did a 8% stock dividend. So you now have 9.45 shs. They also did a fractional sh purchase @ 6.44 a share, so .45 x 6.44 = $2.90 cash. You now have 9 shs.
Dec of 1996 they did a 3:2 split. So you now have 13.5 shs. They did a fractional sh purchase @ 12.125/sh. .5 sh x 12.125 = $6.06 cash. You now have 13 shs.
Tender offer for all shares in Jan 2001 @ 18 a share. This would get you 13 x 18 = $234.
So, total, over time, you should have rec'd 2.98 + 6.06 + 234 = $243.04.
This is assuming the issuer sent cash to the treasury for all of those events.
You need to contact treasury and figure out exactly what it is they have.
Posted on 1/14/15 at 4:10 pm to hungryone
quote:I found it on the NYS Unclaimed Funds website from the state.
Does the STATE hold the paper?
Not a third party. They want me to provide a death certificate for my Father and Grandfather and get a form notarized with a copy of my license indicating my full name and DOB.
I just wanted to know if it would be worth the hassle... if this is potentially a decent sum, I'll absolutely go through the rigmarole. If not, they can keep it
Posted on 1/14/15 at 4:13 pm to LSUFanHouston
quote:
LSUFanHouston
I called my mother and she said she thinks she has some paperwork regarding this issue... is it possible that she has more shares and somehow only 7 of those shares found their way into the hands of the state?
Either way, however many shares I'm owed... they're worth ~$18 each... did I follow that correctly?
I appreciate all your help as my finance guy is studying abroad in Chile for the next three months and effectively out of pocket.
Thanks!
Posted on 1/14/15 at 4:19 pm to yankeeundercover
quote:
is it possible that she has more shares and somehow only 7 of those shares found their way into the hands of the state?
Certainly. But this is where it gets tricky. Assuming all the shares were redeemed, who else would have rec'd the money? One of the things I read (I have access to a database that tracks such things) is that 92 percent of the shares were tendered. It did not say what occured with the other 8 percent.
Get what your mom might have and go from there.
quote:
they're worth ~$18 each... did I follow that correctly?
yes, from what I can tell, that was the sale price in 2001.
Posted on 1/14/15 at 4:26 pm to LSUFanHouston
quote:Being that both my Grandfather and Father passed away in 1991... is that why the funds may have been tendered to the state?
who else would have rec'd the money?
So I'm probably not looking at any shares so much as I'm looking at the monetary equivalent which was most likely tendered in 2001?
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