DEAD Stocks (DEAD)

[mAjOr dAmAgE]

ADPC. Good pick of a dead stock, definitely dead. Allied Products International was deleted on December 29, 2000 for failure to comply with NASD Rule 6530. However, before that, it filed bankruptcy in the Northern District of Illinois. The bankruptcy ballooned into several disputes and the case was not closed until just this Summer.

A review of their plan indicates that the shareholders will not receive any cash distribution. In addition, it does not appear that shareholders will receive anything. All preferred shares are being cancelled.

IF YOU HAVE ADPC STOCK, monitor it for changes. There is a good chance that the company may give a token amount of stock to prior shareholders (but probably not). If you do have shares, and they are reduced and there is a new symbol or even a CUSIP, there's a chance these people may try to go onto the market again. Keep an eye on your statement and let us know immediately of any developments. However, it is highly unlikely that anything will come from existing shares.

But as I said, the reorganization is happening right about now and the court battles are finally over.