Expert: Steven Taylor - 4/26/2009

Question
I was clearing out some of my late grandfathers files and came across the following penny stocks:Rusty Lake Resources, Golden Eagle Capital,Fabian Expl,Galilean Resources,New Arcadia Exp,Seven Seas Petrolum.Would you have any info on these old stocks? Thank you,James  

Answer
James, from the information I have available, I was not able to find much, if any, value.

Rusty Lake became Rustex Mining, but the charter was cancelled in 1973, and I don't believe there was any value for shareholders.

Golden Eagle became Points North Digital after a 1 for 30 reverse stock split. Points North became Peragis, which was delisted and cease-traded in 2001. Those cease-trade orders remain in effect, but the company applied for an amendment to those orders in 2008 in order to try to reactivate the company. I have yet to see any tangible evidence they have made any progress towards a return to trading, but worth watching for.

I have no information on Fabian Exploration.

Galilean became New Fibers International, was was dissolved and cancelled in 1994. I don't believe there was any value for shareholders.

New Arcadia was delisted and cease-traded in 2003. Those cease-trade orders remain in effect.

Seven Seas went bankrupt in 2003. I don't believe there was any value for shareholders.