Canadian Stocks/Mirror Oilfield, Worldtec, CTM and Cars4u
Can you please tell me if the following stocks (purchased in Ontario) have any value and how to cash them in if possible.
-Mirror Oilfield Construction Corporation
-Worldtec Sciences Incorporated
-CTM Cafes Inc.
Louis, from the information I have available:
Mirror Oilfield was cease-traded in 1994. That cease-trade order remains in effect. No current value.
I have no information on what happened to Worldtec. If there is a transfer agent listed on the certificate, I would try to contact them first and see if they have any information. You can also try the Province of Incorporation and see what information they have available. Or contact a broker and ask them to perform a detailed search for you.
CTM was one of the numerous penny stocks that was part of the government's lawsuit against Price Warner Securities for fraud. They acquired large blocks of stock, illegally marked them up by hundreds or thousands of percent and resold them to their customers. As soon as they ran out of stock to sell, they stopped propping up the prices and they collapsed. CTM was marked up an average of 495%. It collapsed and was cease-traded by Ontario in 2002. That cease-trade order remains in effect.
Cars4u had a 1 for 100 reverse split, followed immediately by a 100 for 1 forward split. The purpose was to eliminate all shareholders holding less than 100 shares. If you had less than 100 shares, you should have received a small check for your shares. If you had more than 100 shares, the stock later merged into Chesswood on the basis of 1 Chesswood unit for every 18.33 Cars4u common shares. Chesswood currently trades for about $14.50 on the TSX. You will need to contact the current transfer agent (www.tmxequitytransferservices.com) to see if you are a shareholder and, if so, to have your old shares converted.