Well, wasn't sure what to put down for a topic heading. The company isnt "necessarily" lost, but might as well be. Dycon Corporation - in the gold exploration and recovery business (OK, stop laughing!)
It is a company that my grandfather and mom invested in almost 40 years ago.
Not listed on any exchange, rather incorporated in Maryland. They currently have a Resident Agent/Lawyer in MD and the "Company" moved its "research operations" to FL (only list a P.O. Box), but kept their MD Incorporation.
They stopped sending any Annual Reports years ago (2001), and no communications of any kind to shareholders since 2003... we have no clue what their financials look like (but I haven't made an attempt to ask the RA yet) but I doubt there is much of any value left.
It seems the only thing that the State of Maryland cares about is that they file their annual personal property statement and I guess pay some minor amount of taxes on the property. It seems they don't have to have Annual meetings (since no Directors are ever elected) or issue Annual Reports or financial statements to shareholders (nor do they seem to file any with the state).
And I suppose since they still file the personal property report with the state every year, they can't be considered a worthless asset... lol... well, not under IRS guidelines for a tax write-off.
Have talked with the Resident Agent Lawyer to get info and he just said he would ask the Company CEO to give me a call... well, that hasn't happened...lol... and I never did believe it would.
I am also thinking of just buying the stock from my mom at a penny stock price (although I wish I had some kind of financial statement so I could set that as "fair") so she can take the writeoff on her taxes this year. But then, not sure how to get the stock certificates re-issued in my name if I cant contact the company!
Any suggestions other than just giving up all hope? This has already outlived my grandfather and soon my 80-year old mom.
Thanks & Cheers
Ray