Magellan Energy, Ltd. (MGLG)

[space1230]

lol. You own nothing more than a loss, when you call your broker and ask him to purge the shares for tax loss purposes. The corporate history of MGLG was destroyed back in 2009. A 15c-211 would have to be filed to make ANY corporate changes. MGLG has 2 big problems: (1) Former management (who totally abandoned the investment shell back in like 2005-2006) carelessly allowed the shell to be hijacked while still "legally" in their possession and

(2) There is no market maker that will sign an approval for a corporate action to fight a near 8 year old SEC suspended hijacked shell. Let's not even get into the last known 15-25 billion o/s count. PS, a corporate action would be needed for a r/s which cannot happen either, because that's a corporate action. Not to mention the fact that there is no one who legally owns the defunct shell of a shell (no one to even file for the application for a r/s which would 100% be denied anyway - along with any other corporate action).

MGLG shareholders own NOTHING, except a possible quick catch of market makers shifting a miniscule amount of shares for reconciliation. The broker commission probably outweighs the trade.

We own shares of the former business, paper stock shares. And they occasionally trade so your statement in itself is WRONG !!

BTW shells are bought and sold all the time. It's possible the former owners will desire bringing MGLG back to life