Magellan Energy, Ltd. (MGLG)

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The ONLY reason why MGLG can "trade" (if that's what you call it for this carcass of a shell) is because the SEC has no jurisdiction to revoke non SEC filers. With SEC filers, after a suspension, the SEC will move to revoke the shares and toss the trading vehicle in the trash. Non-filers like MGLG can only get an sec suspension and live on the grey sheets like zombies forever! MGLG was not an sec filer probably because it was an illegal trading vehicle as it was hijacked and sold as a stolen shell.

Can MGLG resurrect? No. Not even a remote possibility. It's corporate body is destroyed and there is no legal owner of the former shell. Even if someone was moronic enough to try to make FINRA laugh with a 211 application to revive it, it's simply not worth the cost. A dirty pink shell is cheap enough to acquire. No one wants an dirty sec suspended grey sheet shell. Again, there would need to be a willing buyer and willing SELLER. There is no seller because that was the route of the entire suspension almost 6 full years ago.

IT STILL CAN TRADE. DON'NT UNDERSTAND. BESIDES THAT BTU ISSUE NO TALK ON THAT EITHER. THIS COMPANY COULD BE VERY GREEN ALL THYE HAVE TO DO IS ASK FOR HELP. IF ALL ITS TRUE.WHY WOULD A COMPANY NOT WANT TO INFORM EVERYONE WHATS GOING ON.