Canadian Stocks/Aero Energy Ltd
I've come across a depository acknowlegement document sent to my mother (deceased 2005) by a stock broker who is no longer in business for 200 shares of stock in Aero Energy Ltd issued on July 12, 1994. I phoned the BC Securities Commission to see if this might still be valid. However I was told that the company closed or was cancelled or stopped reporting in 1989 (I think that was the year she said). Obviously its a mystery why a stock broker would sell shares 5 years after the company folded, if that is indeed true. Is this conflicting information or do you know of an Aero Energy Ltd operating in 1994? Thanks!
Cheryl, from the information I have available, Aero went bankrupt in the 1980's and was dissolved. I show no other Aero trading on the Canadian public markets around that time except for that one.
In regards to the issuance of the certificate, the broker wouldn't have sold the shares in 1994. Instead, the shares were sold to your mother years before. The certificate was sent out in order to clear the holding from their books as they did not want the responsibility and cost of holding a worthless stock. They likely knew it was worthless which is why they wanted to get rid of it. In the highly unlikely chance the company would be revived (which was impossible in this case, as a receiver had already distributed the assets to creditors and dissolved the corporation leaving shareholders with nothing), the company could then contact the shareholder directly and the broker would not have to be involved.