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PRmaniac

02/16/11 7:46 PM

#414 RE: citizenchin #413

No, they can only trade if, after 1 year, they can reverse-merge into a shell. New shares are created. Yours are just gone.

They could also try to Do a new registration of new shares after a year, but that is VERY expensive and the audited financials they'd need to do for two years may be almost impossible to get someone to sign-off on, IMO.

Either way, former shareholders have few rights.....their shares are revoked.
They could try to recover damages, but I doubt that they would get paid.

An even bigger problem is this co just lost their access to their ability to get financing from the public market.