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Re: cowtown jay post# 346353

Tuesday, 09/12/2017 2:36:10 PM

Tuesday, September 12, 2017 2:36:10 PM

Post# of 346916
This regularly revisited topic makes no difference.

The stock revoked or not, in your account or not, is and always will be worth nothing.

You cannot and have not been able to buy or sell it. The stock brokerage that is listing it in your account will do nothing at all with it other than keep it in your listing.

If you drop that brokerage and file all the paperwork to move all your holdings into a new one....the new one will not accept that security into it.

It was, is and always will be worth nothing and only be a problem to all left in it's wake...including the brokerages that now can't do anything but waste time, energy and space maintaining it in accounts (again even if the owner of the account abandons it, doesn't want it, dies, etc). DISCLOSURE: There is one exception with SOME brokerages: They will buy it from you for a service fee, remove it from your account and put it in one they maintain to hold garbage. So maybe yours will if you want to give them the $50 or so to do so.

Some time or another....when paperwork that means very little if anything but costs a great deal to do is completed the stock will be formally revoked and the listing able to be dropped. Don't hold your breath! I have some that went through well recognized bankruptcies (from Banks in the 1980s, Communications Cos (like WorldComm), etc a decade later that are still there.

But again....it means nothing other than the fact the stock isn't worth the trouble to do anything about - and clearly - never will be.

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