This is hurting my brain!

If people that bought in at a higher price sell now will it be considered a superficial loss if they buy into the placement prior to July 31?

They are not buying shares but are purchasing receipts(whatever the hell that means).

"The Offering consists of a private placement of approximately 12,500,000 subscription receipts (the "Subscription Receipts") at a price of $0.40 per subscription receipt for gross proceeds of approximately $5,000,000.Each Subscription Receipt shall be automatically exchanged, without any further action by the holder of such Subscription Receipt, and for no additional consideration, for one (1) common share, on a post-consolidation basis, upon the satisfaction of the Escrow Release Conditions (as defined below) on or prior to the date which is 60 days from the closing of the Offering."

That 60 days more than satisfies the 30 day wait period to get you out of a superficial loss position.

Anyone know for certain?