Expert: Steven Taylor - 2/13/2011

Question
I have recently discovered that I have a certificate of shares from Canadian Em Jay Petroleum Shares that were issued in 1955. Please advise how much value they have.
Thank You!

Answer
Gitta, from the information I have available:

The Company went through a 1 for 5 reverse split, then a massive 1 for 200 reverse split, and became New Emjay, which was acquired in the 1960's for 7.1 cents per share.

Those 2 reverse splits would have wiped out most of the shareholders (1 share of New Emjay would have required 1000 of Canadian Em Jay shares), and since the acquisition was over 40 years ago, it is unlikely the old certificate has any value today.