Expert: Steven Taylor - 11/6/2011

Question
Dear Steve-

I invested in a company called Rich Coast Resources LTD, out of Canada, in September, 1995.  I purchased 16000 shares at that time.

In 1996, I opened up a restaurant in Chicago, and as part of my collateral for the bank loan, I provided them the stock certificate for the 16000 shares.

I paid off the bank loan this year, and received the stock certificate back from the bank.  Quite honestly, I completely forgot that I had purchased the stock in the first place...

I am unable to find any information on the company (NASDAQ symbol was KRHC, but then became KRHCF).  I'm assuming the company went out of business.. but before I use the certificate as toilet paper, I wanted to make sure they didn't change names, or if there is some sort of liquidation of assets available for shareholders.

The officers of the compamy at the time were Robert Truxell, Randall Pow.

Any help would be greatly appreciated.

Thanks
Joe


Answer
Joe, the Company has not gone out of business, but has had some significant changes. They did do a 1 for 4 reverse split in 1998 and became Rich Coast Inc. They stopped filing with the SEC in 2001, and later withdrew their registration, which is never a good thing for shareholders. Shortly thereafter, they did a 1 for 100 reverse split and became Media Pal Holdings, which last traded for 2 cents a share. As with so many non-reporting companies on the Pink Sheets, it doesn't even appear there is any current information on the Company available.

Considering those reverse splits, it looks like your holdings have less value than it would cost to sell them. I suggest you contact a broker for confirmation of this information.