ProElite, Inc. (fka PELE)

[DalaiTom]

Has anyone here tried to have their shares removed from their account in order to claim a tax loss? I tried with Scottrade but they said they couldn't remove the shares because there is a "restriction" on the stock...

I tried explaining that the stock was restricted but is now revoked, but he said it's a industry wide thing and he couldn't do anything about it. He suggested contacting the IRS to find out how to declare the shares as worthless. He said if I do that and the stock starts trading again, my shares would start with a zero cost basis. That actually sounds like a better option than having the shares removed (just in case).