With PZG shares not trading, they do not actually become worthless, because they still represent percentage ownership in Paramount. The stock assets are illiquid so cannot be sold; the value per share and total market cap of Paramount are no longer an easy computation (though they probably go down somewhat with the stock not trading).
Paramount will need to compensate existing shareholders (in some way) if/when they sell the company or re-list with an exchange eventually and adjust old shares to the new ones.
Just my ramblings; not sure what really happens in this case if Paramount never trades as a public stock again. At any rate it makes their plans to issue more shares midyear to gear up toward eventual production totally out of the question.
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