Expert: Steven Taylor - 8/1/2011

Question
My father in law puchased Dixie Oil & Gas shares from Gordon Daily Grenadier back in 1981. This has just come to our knowledge and are curious if the certificates are still worth anything.
To my understanding, these were American shares out of a Texas based company. I see that Gordon Daily Grenadier are no longer operating and just curious if you could give me some information on these guys, or lead me in the right direction. I do believe that the Texas based company is still in operation.

Thank you.
S. Barbour.

Answer
Steve, from the information I have available, the shares have no current value. The Company went through several name changes and reverse splits (a 2 for 5, then a 1 for 5.4) and ended as United Pacific Capital, which was suspended and cease-traded in 2001. They also stopped their regulatory filings at that time, as I see no effort to return to compliance and resume trading.

The Texas company likely has no relationship. It is very common for there to be companies with the same name in multiple jurisdictions. As long as the companies with the same name are incorporated in different locations, they can operate separately.