Remember, corporations can take years to die. They can fade from the pink sheets, become "zombies", extremely difficult upon which to get data, totally illiquid, etc. They are no good as tax loss while still alive.

Therefore, if you: 1) hold this sick puppy in a taxable account -God help you if you are trying to emulate Mitt Romney, and hold it in a tax-advantaged account-, 2) subject to U.S./IRS jurisdiction, 3) have gains from more prudent/luckier investments, AND, 4) think PTSC is not just sick, but dead, consider selling your stake for a penny so you can share your misery with all U.S. taxpayers.

Depending on your tax bracket your loss could be worth >40% in sheltering gains. Oh yeah, plus $3,000 of ordinary income.

Hang on for final resolution, and you may not live long enough to see PTSC put out of its misery well enough to claim the loss ...