Company previously traded over the counter until September when it stopped trading. Is that enough to prove the stock is worthless?
Best Answer Click here
This discussion has been locked. New comments cannot be posted on this discussion anymore. Start a new discussion
No, that is definitely not evidence that it is worthless. Some brokers will buy it from customers for $1 as long as they pay a $25 commission -- you might explore that route.
It could be a sign that it is.
Why doesn't it trade OTC any more?
Is the company still operating?
Thank you for your response. As far as I know the company is still operating and is not in bankruptcy. It has an OTC ticker symbol but there have been no trades since September when it sold for $0.01. I cannot find a current balance sheet for the company. Do you think taking a screen shot of the last trade would be sufficient proof that the stock is worthless?
No, that is definitely not evidence that it is worthless. Some brokers will buy it from customers for $1 as long as they pay a $25 commission -- you might explore that route.
Some brokers will buy the stock from you for 1 cents just to give clients closure, and they will mail you a 1099.
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.