AmeriResource Technologies Inc. (fka ARIOQ)

[I-Glow]

You posted:

There were no firm news saying this case is closed and shares will be cancelled on this and this date - it's been months since the last court date and it is still trading. Do you think SEC would allow this to trade if it was dead?

First, did you read Document 75 -

FINAL DECREE
The estate of the above named debtor(s) has been fully administered.

If this case is a Chapter 11 or 13, the deposit required by the plan will be distributed, and it is:
ORDERED that is discharged as trustee of the estate of the above named debtor(s) and the bond is canceled; and the case of the above named debtor(s) is closed.

Then from Document 74:

ORDERED:
1. That the above-captioned Chapter 11 case be and is hereby closed.

If you had read the SEC warning about investing in Q stocks - it clearly states that the stock can continue to trade during the bankruptcy process.

"Q" is for Caution
Investors are often confused by the fact that, despite the likelihood that the common stock of a bankrupt company will be cancelled, the company's securities may continue to trade after the company has filed for bankruptcy protection and before it emerges as a newly reorganized company. This confusion may be aggravated by the lengthy bankruptcy process—which may take months, if not years. Such securities typically trade on either the OTCBB or the Pink Sheets and the stock symbol will have a fifth letter "Q" at the end to denote the company’s bankrupt status.

Risks of Trading in Securities of Bankrupt Companies

When a company files for reorganization under the federal bankruptcy laws, investors are often tempted to buy or hold the company’s common stock in anticipation that the company that emerges from bankruptcy will be profitable. The reality is, however, that when companies emerge from bankruptcy, the common stock of the “old” company is usually worthless. In most instances, the company's plan of reorganization will cancel the existing equity shares.

In general, while a typical bankruptcy reorganization plan allows the “new” company to distribute new shares under a new trading symbol, holders of the common stock of the “old” company generally do not receive any of these shares. A company must pay off existing debt before it emerges from bankruptcy—and creditors, including bondholders, usually receive shares in the new company as partial payment. This leaves little or nothing of value for the common stockholders of the “old” company. This may seem unfair, but it reflects the established priority scheme of bankruptcy and the fact that, in contrast to bond holders, common stock holders take greater risk, but have the potential for the greater gain.

IG