Expert: Steven Taylor - 10/28/2010

Question
Steven,

We have a recent investment statement for my father, who recently passed away, where it shows he owns shares in OCS Technologies Corp. The statement shows a market value of zero. We do not have any share certificates. All I can find about OCS Technologies is that it is not listed on the TSX or vancouver stock exchanges. It appears that in
1996 GEAC acquired some OCS assets (Bell Atlantic Public sector, and that Tiburon Systems Inc also acquired OCS' Fl operations in the same year.

Do these shares have any value? Can we sell them? If so, then how would this be done considering it is not listed?

Any advice would be appreciated. Thanks.

Answer
Leslie, the old statement shows zero value because OCS went bankrupt in 1995. The company was suspended, cease-traded and delisted. The assets were sold off for pennies on the dollar compared to the Company's massive debt, and there was no value for common shareholders.