Expert: Steven Taylor - 1/16/2012

Question
Hi Steven, i have a stock certificate for 5000 shares of NORAD RESOURCES LTD ONTARIO dated Oct 88 with stamps on the top right with dates June 89 and Oct 89. The certificate number is 00103.
It is from the Vancouver Stock Exchange Service Corp.It is countersigned and registered with Guaranty Trust Company Of Canada in Toronto.Any help would be greatly appreciated as i have found nothing but the company's name on a "cease trade order" site and have no idea what that even means.
         Thanks Again!
         Brad.

Answer
Brad, from the information I have available, the shares have no current value. The Company was delisted from the Alberta Stock Exchange in the early 1990's due to their financial condition. They also appear to have stopped filing their required regulatory and financial information at that time, which is why they were slapped with the cease-trade orders which remain in effect. Cease-trade orders are legal orders which stop all trading in a stock until they comply with the securities laws and regulations, which in this case appear to be the failure to file their financial statements. Unless that is corrected, and all the documents and statements for the last 20+ years are also prepared and filed, the shares cannot resume trading, which clearly is highly unlikely at this point.