Bull, Etrade extends purchases all of the shares for .01, not each share at .01. This is so that you can use this as a tax writeoff, instead of these shares sitting under a CUSIP number for all of eternity. Basically, to them the shares are worthless, but they take them off your hands for 1 penny. If someone actually offered me .01 per share, I would take it in a heartbeat. I'm not selling my shares until the last trading day of 2008 just incase there is a miracle, but considering what I've read about dissolved companies with this type of situation, it does not look good.
