No, that was not the definition of a zombie ticker. A zombie is a dead company that still trades on the retail market. (still used as a reference for active but unprofitable companies propped up by the government or parent companies)
Those companies were often dead for several years. No board, no ceo no filings and no business. Quite often no longer registered with any SOS either. The OTC was full of them and since there were no rules governing them retail could still trade them. They were often used to run scams because anyone could claim to be the owner with little effort.
In 2019 the SEC put a stop to it. No current filings and its off the OTC electronic market usually within just a few weeks.
Brokers who still show quotes or allow live electronic trades can be fined.
Zombie tickers do not exist on the OTC anymore, but you can still convince some brokers to allow you to list shares. Those shares can only be traded by the MMs. Retail cannot see them. You will still see the occasional behind the scenes trade go through.
That said there are still plenty of scams on the OTC. It just cost more to keep them running now. Plenty of successful conmen out there with enough illicitly acquired funds needed to keep filings up to date.
BLLB isn't a zombie because it is still listed, how many shares it trades is meaningless. Plenty of profitable companies on the nasdaq that trade just as slowly.
No this was written for you. It was written for the new traders who actually want to learn something. You already know everything....
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