Expert: Steven Taylor - 6/4/2011

Question
QUESTION: I have stock in Commonwealth Richmond Properties Inc. 3000 units 'that I purchased on 1992 Can you tell me how I can sell
them hope you can help me

ANSWER: Luisa, from the information I have available, Commonwealth Richmond did a 1 for 16 reverse split and became Empire Alliance Properties. Empire was cease-traded in 2002, and that government order remains in effect. They have not filed any of their required regulatory filings since 2001, so I doubt they will return to trading. They were also registered to trade in the US with the SEC, who revoked them last month (it takes awhile for the SEC to get around to it). Therefore, there is no trading market for the shares, which means they currently have no value.


---------- FOLLOW-UP ----------

QUESTION: Should i keep them or not Is there a change that they will have value one day

Answer
Luisa, as time goes on, it becomes more and more unlikely that the company will ever be revived and return to trading as it becomes too expensive to try to revive the old, burned out company. Since certificates are not bearer instruments, you would maintain ownership in the company even if you do decide to get rid of the certificates, as long as you are the person named on the certificate. If you do keep them, I suggest you take a post-it note with this information on the cease-trade order and paperclip it to the front so you don't have to retrace your steps.