I’m very new regarding penny stocks. I don’t understand how anyone can buy and sell stocks from a company that’s out of business? I did try calling the phone number and it’s disconnected. Why would anyone buy stocks of a company not in business? I appreciate your opinion

So would should sell all your shares now?

I agree. How can there be stock purchases if company is out of business?

Thank you. Your post was very informative. I too, have been working for 2 years to get the restriction lifted, however, E-Trade after lifting and selling my shares now tells me the restriction should not have been lifted and that they are requiring me to buy back the shares ($8k at this time) at market value, money I do not have. They tols me to contact the company directly but I get no response at this time. Not sure what to do but I will keep trying.

Thanks all for your help. does anyone have the correct phone number for the SEC?

I need your help. I am a novice investor. I purchased a few million shares of SSTY years ago which spun off to TPDI with a net amount of shares of 263,157. After about 8 months of exchanging paperwork and many phone calls with numerous representatives from E-Trade I followed E-Trades instructions and they were able to lift the restriction and E-Trade sold my shares about 3 months ago.

Now the representative from E-Trade that guided me through all these steps is telling me that their restriction department said the restrictions should have never been lifted even though they (E-Trade) did it. They are asking me to buy back the shares. I cannot do this because of my strained financial condition.

Does anyone know what I should do? I am stressing out especially if this stock jumps up in value and E-Trade demands I buy it back at market value.

Thanks

JCal