Welcome to the Crystallex HUB on AGORACOM

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

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Message: Writing off KRY shares...

You need to check with your broker on their procedure allowing you to write-off revoked stock.

Typically, one sells seemingly worthless stock to write it off. Unfortunately, FINRA and DTCC will stop any and all attempts to exchange revoked securities. This is because revoked shares do not fall under the definition of restricted (aka unregistered) securities.

Crystallex is in the middle of CCAA, which typically ends in a company reorg to benefit creditors. Tenor has incorporated itself into Crystallex management, and it looks pretty obvious that a backroom reorg is complete. For revoked shares to be of any worth, they must be reinstated by the company that issued the shares. Keep in mnd that once a company is reorganized, it is no longer the original company that issued the revoked shares.

Anyway, check with your broker about their procedure to write-off the revoked shares.

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