iTalk Inc. (fka TALK)

[lloydm]

Defunct Company, Stock Continues to Trade
Even when a company is no longer in business, there may still be active trading in its stock. This is because companies that are no longer operating may still have outstanding registered stock, which can be traded until the company has the shares deregistered or the stock's registration is revoked. The SEC does not have a rule that prohibits the trading of stock once a company becomes defunct because it does not want to forbid transactions between willing buyers and sellers, including those holding shares in defunct companies

Other issues that might arise with defunct companies include the following:


The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock. Section 12(j) of the Exchange Act authorizes the SEC to revoke the registration of a security if the issuer fails to comply with the federal securities laws. Broker-dealers may not execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).

$TALK$ is nowhere close to being defunct. Lets get real here!

https://www.sec.gov/answers/dfnctco.htm