EXLA Resources Inc. (EXLA)

[1manband]

The ask is not 25 cents.

There is really no interest in this defunct company. Nevada is about to permanently revoke the corporation and at that point FINRA will be eventually deleting the ticker for good.

For that reason, the Market Makers are staying out of the way. The MM who has the tightest spread is pulling their quote immediately after the market close. Some of the quotation services, however, grab their final bid/ask spread of the day 10-15 minutes after the market close. By then, the MM with the lowest offer is already gone. So what shows up for those services is the next lowest MM who happens to be 25 cents, which is just an arbitrary figure that MM set so they can remain "on the box" but have no chance of actually trading this defunct company's stock.

This is common with illiquid OTC stocks. The final quotation is not indicative of the actual bid/ask spread during the trading day.