OMDA Oil and Gas, Inc. (OOAG)

[LouisDesyjr]

Process to delist shares

The SEC does not seem to have any definite process or timeline for delisting shares. It seems that every once in a while, they will process a whole batch of companies for delisting. If you look at the SEC notices for desliting, you will see this where they will delist a group of companies, like 50 or more, all in the same letter.

There is nothing left of the company. The only reason that shares still trade is because there is no one left at the company to issue the orders to halt the trading. At some point the SEC will, on its own initiative, issue a delisting order for the shares.

https://www.sec.gov/litigation/suspensions.shtml

If you look at the companies listed here, you will see that after 2 or 3 years, the SEC will request information, and when none is forthcoming, will issue a trading suspension order. At that point the shares stop trading and are dead.

An example that is like OMDA is Life Care Medical Devices Ltd. That company had its incorporation expire in its state, and no reports were on file, and when the SEC send a letter asking for information, the letter was returned as undeliverable.
https://www.sec.gov/litigation/suspensions/2015/34-76170-o.pdf

Louis J. Desy Jr.