Magellan Energy, Ltd. (MGLG)

[space1230]

Is this that spectacular volume, today, that u r referring to? Add up the dollar volume for us:


0.000001 1,000,000 OTO 15:24:48
0.000001 10,000 OTO 15:24:48
0.000001 14,200,000 OTO 15:24:48 <---That's five 0's, not 3 ($1.00 per million when the cost of a million at .0001 USED TO BE $100.00)


No, there is no way out. It's like climbing a barbed-wire fence. Shareholders are stuck with their shares of MGLG because there is no liquidity, nor will there ever be.

The benefit in the tax loss is that one can write off the entire cost of the worthless shares. No, MGLG will NEVER "open up for real." Never. The SEC said so. That's why it's on the grey sheets with a destroyed corporate body (after a hijacking that lead to the sec suspension almost 8 years ago). AGAIN, the ONLY reason why the shares were not revoked is because MGLG was not an sec filer. Permanent residence on the grey sheets is the comparable landing place for the non sec filers.

A random $10 trade is never going to help shareholders as the o/s was last known to be well over 20 billion.

It still trades randomly and has for 8 years..may be for the next 28 years..
But why would anyone sell for a loss when it will cost as much as u make to sell?
U can only write off 2k a year for taxes ,,and by chance no matter how little chance it is..,if it ever does open up for REAL trading a person could make that back in a day if your sitting on millions of shares like most of us are..
If a guy/gal really wanted out..I'm sure there out..

Was surprised to see the volume today and thought I'd find something out.