Replies to post #67441 on Revolutionary Concepts Inc (fka REVO)

[riskreward007]

Were the common shares cancelled with the recapitalization?

That seems unlikely, since REVO is not declaring bankruptcy, and would probably require authorization from a regulatory power before it could cancel its common shares (see below).


What Happens When a Company Cancels Its Common Stock?
by Calla Hummel

When a company cancels its common stock, it declares all existing common stock certificates to be null and void. Most often, companies cancel stock when going through bankruptcy proceedings. After canceling, the company may cease to exist or issue new shares in a reorganized company. In either instance, the canceled shares only have value as souvenirs, not as securities.

Notification
A company can cancel common stock in bankruptcy and occasionally in other situations such as reverse stock splits, though a temporary recall is more common. The company may need authorization from a regulatory power before it can cancel, depending on where the company operates. It then instructs a financial service, called a transfer agent, to notify all investors, exchanges and other parties involved in the exchange of its common stock.