I owned 1558 shares of a stock symbol BYOD.(they filed a section 11) and now it has been converted into a number symbol 103354106. The company for some reason is also being listed as BYDC currently. They also gave me 24 shares under the new BYDC stock name. I was wondering if what I own now is worthless and why I own symbol 103354106 now instead of BYDC or BYOD? I talked to a broker at etrade and they seemed confused too.
2006-10-06 08:15:06 · 4 answers · asked by James H 1 in Business & Finance ➔ Investing
The company used to have the ticker FOB and traded on the NYSE. The company reorganized under Chapter 11 bankruptcy. While in bankruptcy, shares traded OTC as BOYD.
These shares were "extinguished" using the terms of the report, and shareholders were given a small percentage of the reorganized company, the shares of which trade as BYDC.
This was described in the 8-K issued in June.
http://www.sec.gov/Archives/edgar/data/1074530/000110465906043476/a06-14325_18k.htm
and Form 15 a few days later.
http://www.sec.gov/Archives/edgar/data/1074530/000110465906044096/a06-14405_11512b.htm
It pays to read the documents you get from a company, particularly when it is in Chapter 11.
According to Yahoo!Finance, BYDC is still being traded (but not frequently) on the pink sheets.
http://finance.yahoo.com/q?s=BYDC.PK
The number 103354106 is the CUSIP (identification) number for the old shares, before the company filed for bankruptcy. Again, those shares are worthless.
What you now own are 24 shares of a very thinly traded pink sheets stock, that last traded at $9/share (and that last was back in September).
Not what you wanted to hear, I am sure, but I hope this clarifies.
2006-10-06 14:18:03 · answer #1 · answered by TJ 6 · 0⤊ 0⤋
I think you've got a couple of things going on here... one, the reason you have 24 shares intstead of 1558 is probably a reverse stock split. It's rare, but it happens. As to the stock being listed by a number instead of a ticker symbol, it's probably been de-listed by Nasdaq. You might want to check into the situation and see if a bankruptcy is in play... Things like this are usually not a good thing...
2006-10-06 08:23:54 · answer #2 · answered by morlock825 4 · 0⤊ 0⤋
Volatility is high, nervous too, waith and see .trust.
2006-10-06 08:23:55 · answer #3 · answered by Anonymous · 0⤊ 1⤋
n.y.s.e. com nyse.com new york stock exchange .com
2006-10-06 08:24:22 · answer #4 · answered by ? 6 · 0⤊ 1⤋