FINRA Rule 11530(b)
For a worthless security, in lieu of a certificate, a broker/dealer can provide you with a Letter of Indemnity which shall grant you any rights and/or privileges which might accrue to a holder of the physical securities.
"The penny stock investor may be the most dangerous creature in the investment world, at least to himself.[...]His hypocrisy becomes most apparent when he then blames his losses on the greed of others." Robert C. Dugan, Director - JRM Capital