Expert: Steven Taylor - 12/10/2009

Question
I have 90 shares of stock in Alchib Developments Limited dated November 4 1969 and registered in my father's name of Elgin C. Gould, Certificate number 06374. I am inquiring on the worth of these 90 shares on today's market. My father passed away in 1988 and I was going through some of his old stuff and found this stock certificate. Could you please email me back with any answers that you may have.
Thank you,
Dan Gould (executor of the estate of Elgin C. Gould)

Answer
Dan, I am asked about Alchib often, which suggests lots of people were stuck with this worthless stock. The company changed names often, and performed at least 1 reverse split before becoming Cercal Minerals.  Cercal ran into serious financial difficulty in 1994 and was suspended, delisted, and cease-traded in 1994/1995. Those cease-trade orders remain in effect today, which suggests they were never able to raise enough money to correct their problems.