Think! Hypothetical: You own 100 shares of FudgFux @ $10.00 each. It drops to $1.00 each. You bail and dump at $1.00 each. What shows on your 1099 from your Broker; Worthless or $900.00 loss? The requirement is that shares must be out of your control. Worthless is subjective. Did your Broker refuse to take the shares?
By the way..... I seriously doubt that you are in a position to trade in either of the two groups you mentioned.