Emperial Americas, Inc. (fka TEXX)

[loanranger]

"Shareholders should contact the company and pressure the Mgmt to file their delinquent Financials because ALL shareholders would be wiped out IF the SEC suspends the stock."

Please clarify something for me. I understand that the history is that 99.99999% of the stocks that are suspended "will have their stock registrations revoked under DEFAULT or other Admin Law Judge reasons when the delinquent Financials are not filed as ordered by the SEC. Stocks in this category will remain on the Grey Sheets until the SEC Admin Law Judge revokes the stock registration".

I understand that, from a practical standpoint, the companies in question are beyond repair, but....
Does the revocation of a stock's registration prevent the private exchange of that stock? Can a shareholder that has, or privately buys, a majority of the company's shares control and operate the company? Or does the revocation of the registration act to effectively dissolve any ownership rights in the company?