A company can r/s validly issued stock. They cannot do it on fake stock. They can however replace the fake w/ real first then do the r/s.
When a r/s occurs, the stock is assigned a new CUSIP. The old cert then represents the right to exchange for a new cert w/ the share amount split adjusted. If your holdings went to zero, the TA won't issue a new cert.
----- "We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." -- Warren Buffett
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