Expert: Steven Taylor - 4/18/2011

Question
I work for an attorney in New York State.  An Estate I am working on has an old stock certificate for 90 shares of Hydra Explorations Limited stock issued January 21, 1976.  Can you tell me if this company was purchase by another, or if it has any value at all?

Answer
Judith, from the information I have available, the shares have no current value.

The company went through numerous name changes and reverse splits and became Waterford Capital. Waterford later did a share exchange and became CPI plastics on the basis of 0.205 CPI per share of Waterford. CPI did quite well for awhile, but eventually went into receivership and was delisted. The receiver said at that time that it was unlikely that common shareholders would receive any money from the sale of assets, and I believe that has been the case.