Replies to post #127725 on GNCC Capital Inc (GNCP)

[cars3]

The only problem I have is they told us shortly and that was afew months ago. I sure hope it is soon I would like to hear from them and they do not talk to us at all. Not sure what to think at this time.

[Tgarfield2]

Delisting is a different thing.
Your shares were delisted a long time ago.

After shares are delisted and have no transfer agent for 6 years the DTC enforces destruction of old certificates. It is to keep old share certificates from defunct companies filling up the warehouse. The DTC had to keep intact for liability reasons. That ended with the new rule. You should read up on it, the information is out there. It was started in 2003. A list is put out approximately monthly that gives brokers 3 months notice and is published on the DTC website.

If you don't like or believe it is irrelevant to whether or not it is a decade and half old rule that is in enforcement. A call for comments happened in 2003-2004. 1000's of defunct company certificates have since been destructed.

[BigBake1]

This is pretty simple stuff, first off FFGO was not "delisted" as it was not a listed security on any exchange at the time of revocation. Only stocks on exchanges are listed securities, stocks on OTC Markets are simply "QUOTED" securities, a Form 211 is filed allowing broker dealers to provide quotation services for the security. Quotation is the lowest level of validation and verification, unlike a listing on an exchange which must meet all of the requirements of that exchange to be listed upon it.

A listed security is far more vetted and financially sound than a quoted security.

What is being confused is the revocation of the "REGISTRATION", the security was registered at one point in it's life. They failed to file the required financial reports in a timely matter along with obviously some form of money laundering occurring that led to a suspension and eventual revocation. The security tried to bypass this by using a reorganization effort after suspension. It was revoked, the status was not changed.

There are many examples of securities frozen in time on multiple websites that report last information reported. They are not updated and often add to the fictional stories propagated on the message boards. Just like looking at Bloomberg, it often shows stale information from the last no kidding filing published in EDGAR. It is stale information, the reorganization is stale information.

The stock was revoked and over time due to illiquid trading the NSCC reviews through the list of worthless securities sitting in physical certificates in their vault. This leads to an action by the DTCC to notify brokers that the physical certificate is going to be destroyed and no longer carried on the ledger of the DTCC going forward. The brokers notify the shareholder that the stock will be removed from their account and or assigned some random number for reference. The security is no longer backed by a physical certificate at CEDE and only exists on the books at the transfer agent or the company.

The FACT is that FFGO shares no longer exists in the public market domain, they are considered private company shares. They hold ZERO value, only made up fictional value of the holders of the worthless shares.