Expert: Steven Taylor - 4/20/2011

Question
Have some old stock from Phaeton Explorations and cannot seem to find any info on this company. Does the company still exist and if so are the stocks(1000) worth anything. Thanks in advance for any info you can provide.

Answer
Warren, from the information I have available, Phaeton went through several name changes. They became Falvo Estates, then Falvo Corporation. Falvo later acquired a metal fabricator and changed it name to Conrex Steel. As part of the reorganization, they gave shareholders the option to either redeem their common shares for 92 cents per share or convert them to new Class A shares of Conrex. The majority (90%) opted for the redemption. I believe those that did not redeem were converted to new Class A shares of the Conrex Steel. With the redemption, Conrex was able to delist from the Toronto Stock Exchange and go private. Therefore, even though Conrex Steel is still around, the shares are not traded.

I suggest you try to contact Conrex directly through http://www.conrexsteel.com/ If you are still listed as a shareholder, they should be able to help you.