I have nothing but worthless shares.
The company was in violation of SEC rules, behind about 2 years in filing financials, so were not reporting what they should have been reporting which is partly why the SEC revoked the shares (Meaning the company stock no longer has a public trading platform for the shares, but we still own the shares of the company).
What I am curious about is what the legal status is of what should be a reporting public stock that the SEC has forced into a non reporting status. Seems a bit counter productive, what I think the SEC action does is halt the printing and retail selling of shares.
But companies have limits that trigger a requirement to report. They were already reporting.... anyway, this is not field of expertise.
In this case, the last I heard the only asset the company had was O&G leases, but with out back door help they would have lost those, maybe by now? Also not field.
Our only hope is if they still have the leases, if the leases are worth something, if they get to a point where they want to raise cash by printing shares, in which case they would need go back to reporting first, and get unrevoked. I hear that as of 2013 that had only happened once in the history of the market.
Other option is to sue the company, which makes zero $$$$ sense unless you want to seize assets that may be worthless?
One other option is someone comes along and wants to take the company private, or buy the assets if there any?
Have you checked the Nevada SOS to see if the company is even a legal firm anymore?
All of my posts are strictly opinions and should not be considered to be facts, or investment advise. They are for entertainment purposes only.
