...aside from losing all of your money, what does that mean?

 For a joke I spent a spare $75 on a stock that came through the fax at work.   It has gone from $0.93 per share to like $.001.   I think it died.

Can I still hold it?   What happens to it?   It'll cost me maybe $6.00 or $7.00 to sell it, but..... who will buy it?   Any harm in just hanging on to it?

The stock is/was:  LITL

Thanks.

Buy more...it's free!

chili

If its worth .001, it is not worth 0.  However, it likely should be.

 When a company goes belly up and the stock is effectively 0, sure you can hold it.  But as long as you own it, you can't write it off.   So yes you can hold it until it is truely 0.

 I had one of those once.... a broker did a courtesy buy for $1 for all that  I owned.  This allowed me to write it off.    To write it off, you need to sell it or  be able to prove that it is worthless to the IRS.

jb
 

The 52 week high was 2 cents. 

Another idea?

> Ck and see if it has any patents or other things it might end up being bought by other companies in the future?

> Otherwise? frame it and keep it by your Puter to remind you not to take a flyer on crap like that again.. better off buying Lotto tickets with it or 20 gallons of gas and take a nice ride to the country.

I have 3 such stocks and are on my Shelf..( Penny stocks)

but 1 came in and I came out + $325 ahead.. WhoppieDo!

Methinks "something is rotten in the state of Denmark" or at least California. Read this post on Yahoo! Finance message board seeking members to join a class-action suit: "If you are interested in joining in a class action against LITL for fraud then please leave a 'reply' to this topic with your email address (and/or name), how many shares you currently own, and when you bought them. I already have 4 investors interested, and need 16 more to seek a CA attorney to file suit. [name]"

http://messages.finance.yahoo.com/mb/LITL.PK

Caveat emptor!

The weekly chart for LITL indicates that the stock bottomed out at .00625 in 12/07.  Recently volume has skyrocketed and the price is now up to .0063.  Chili might be right.     rotflamo

uh