Expert: Steven Taylor - 9/18/2010

Question
I inherited 1000 shares of the subject company.  Is this firm still in business operating under a different name or bought out by another firm?  I haven't had much luck with online searches for information, except some links to SEC filings indicating it's on the "foreign restricted list".


Thanks for your time!!!

Answer
Unfortunately, from the information I have available, the shares have no current value. The company had its charter cancelled in 1976.

The SEC restricted list information was a real tip off that this was likely a less-than honest company. The restricted list was for companies that sold shares in the US without being registered with the SEC, which is illegal. Honest companies don't do that, and dishonest companies don't get very far.