More than 10 years ago I was working in, and a part owner of, a company that was traded on the OTC BB. Specifically, my shares were restricted shares under SEC Rule 144, and the shares were not in any online account that I had access to. Long story short, the company ran out of money and ceased doing any business. It didn't file anything to the SEC and didn't post any public information about itself anywhere as far as I know, for several years. The company still showed up in stock listings in for example Yahoo Finance, and a tiny amount of trades were made on the OTC every year.
Now, several years later, there is much activity on the OTC and the stock price suddenly shoots up. I start looking in to it, and see that the company has filed some new filings at least on otcmarkets.com. According to the filings, the company has a new name, new directors, and also new owners. All previous owners seem to have disappeared, the new CEO owns 99% of the shared. Apparently, I no longer own any shares in this company.
Can someone explain how this is possible?
More details: the company is a corporation registered in Nevada.