rjm2:
My heart goes out to you on this one!
Looks like lost money to me. If their situation is so dire that they can't afford the basic costs of remaining listed, then they appear to be in severe financial straits.
You're a pretty savvy person, what would you advise someone to do if they wrote to you with the message you wrote to us?
I think you'd urge them to get out of the stock and salvage what little of their original investment they can. And to try to learn whatever they can from the situation. And to not dwell on the loss as it is part of the price exacted when risk is assumed. It wouldn't be risk if it didn't sometimes exact a toll.
As far as what you can do with the company or about the company's situation, I'd have to ask: "How much of your time and money are you willing to throw away in the endeavor?" I'm sure there are a lot of options open, shareholder revolt(but what good would it do if the majority of shares are owned by the folks that made these decisions?); shareholder lawsuit(but where would that be prioritized if the company goes belly-up, and how much would it cost to get there?); file a complaint with the SEC(but would they investigate a company requesting to be removed from their requirements?); etc
If it was me, I'd look at the amount of money I could recover from disposing of the shares. If I couldn't get enough to cover the transaction costs, then I'd get the certificates issued in my name(as opposed to "street name") and throw them in my memorabilia drawer(who knows, maybe someday they bring the company back from the brink). If I could recover enough money to pay the broker and still get some cash, then I think I'd do that and move on. I would, in either case, include the loss in the results I use to analyze my performance using whatever investing/speculating strategy that I was using that got me into that trade.
That's my two cents.
Again, sorry to see you have this loss!
Timba |
