Some brokers will buy a stock that has been at no-bid status for an extended time from the client in a "worthless stock transaction," often paying a penny for the lot at full or reduced commission. Call your broker to ask if this is an option.
Even if a company goes bankrupt, the IRS may not consider its stock to be worthless. However, if your broker buys your stock in such a transaction, the loss realized in the sale should qualify as deductible subject to the annual net loss limit of $3,000. If net losses are greater, the excess amount can be carried over to subsequent years.
Even though PVEC has had no published bid for several weeks, trades do still occur from unsolicited bids so a broker may not yet consider it dead, especially if the client has not made a continuous effort to sell it at market.
When these worthless stock transactions occur, they are shown at the lowest price available for reporting, $.0001/share. A lot of volume in worthless stocks toward the end of the year may actually be such transactions.
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