You don't get rid of a company website for a lot of reasons.
1. It's only $10, once a year
2. You lose your website
3. You lose any emails associated with the domain
4. You ALWAYS keep your company's domain name url for SEO purposes, selling/merging the company or not.
5. Creates unnecessary and pointless commotion among investors
6. Did I mention it's only $10?
The list goes on and on. Even if it was a lame Word-Press site, it would have been better than nothing.
It would also have been less panic-inducing if they had actually taken it down themselves (even though there's no legit reason to even do that) and not let the registrar take ownership from them. They could still technically buy it back right now for a redemption fee of $100 bucks or so I believe. I'd have to look at the registrar's terms, but it's usually $100, then they sell it to the highest bidder after 30-40 days of trying to contact the original owner.
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