Worthless stock

[DTS]

Is there a site I can go to so I can find out if a stock has been listed worthless?

Client can't sell it nor does he want it. I thought we might list it as "worthless", but the rules for this seem strick.

Any help is appreciated!

D

[Lion]

Broker?

If it's held by a broker (or client transfers it to a broker) broker would write a letter the year stock becomes worthless. I've also had brokers offer to purchase the stock for $1 so there's a sale to report when the stock was not widely held so sporadic trading but not worthless.

Company's own web site, stockholders' relations, should post information.

[DTS]

An E-Trade acct

Client has tried to contact them, no success. And, he says the broker wants nothing to do with this stock (his words). What this means, I don't know.

I will go on the site and see if I can gain some info. Thanks for the suggestions.

D

[S T]

What Stock

Dennis,
What stock is it?

Sandy

[DTS]

Stock

The stock is Universal Express, Inc.

D

[FEDUKE404]

Worthless vs not worth much

If stock is trading, it is not "worthless."

Most recent experience along this line was client with Scottrade. Upon request, they wrote a year-end (boilerplate) letter stating there was "no market" for the security.

I have also had clients whose brokerage firm "bought" the shares for $1 to close out the position. FWIW, Scottrade would not go that route.

FE

[BHoffman]

http://www.usxp.com/Receiver/Third_Report_Of_Receiver_06_25_08.pdf

http://moneycentral.msn.com/detail/stock_quote?Symbol=usxp

Hope that helps. I'd say it's worthless.