Revoked Shares???
in response to
by
posted on
Dec 04, 2013 01:44AM
Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
There has been the spread of misinformation about KRY's shares allegadly being revoked. This started as long ago as May 27 when JC said on InvestorHub:
"'Sure, those revoked shares might be considered, "unregistered.' But, not by the SEC. The major thing - being REVOKED - means cancelled and worthless. Know of any revoked shares coming back to benefit holders? Revoked shares never get, "re-registered," by reorganized companies. The Crystallex revoked shares are cancelled, gone, worthless."
In fact, KRY's shares were never revoked. Rather, their registration was revoked under the Securities Exchange Act of 1934 as a result of their failure to comply with certain filing requirements. There is a world of difference between shares being revoked and the company's registration being revoked. Such revocation of registration is commonplace and does not mean a company's shares are worthless. Moreover, KRY is not be prevented from reapplying for registration under the Act in the future.