LGX Oil + Gas Inc ROAOF

RE: Shares

[robbie25]

They're not going to take the shares from you....Oilexco is still, technically, a corporation, with shareholders. It was not wound up and dissolved.

This represents the worst possible scenario for shareholders....you can't claim the tax loss because the company is still an entity, and it's now pretty much too late to sell on the pinks if you wanted too, because the volume is so low that an order of any size would plummet the price, making it pointless to sell.

I know people have mentioned that you can sell it to your broker for
.01, and THEN claim the loss.....but I would strongly check into that....I've never actually heard of it being done, and it seems like too easy a loophole....after all, why have the rule that you need to sell a stock before you can claim a loss if anybody can at any time sell their stock to their broker? The law would be redundant.

I mentioned this along time ago, to not just assume that what somebody on this board says, especially about that, is correct.