On February, 3 2000 I purchased shares in iVoice.com (IVOC). These shares sat in a "hobby" account which I rarely looked at until recently.
I'm looking for guidance on how best to deal with the worthless positions cluttering my account after an interesting sequence of transactions by iVoice.
2005/08/15 IVOC spins off three new companies leaving me with holdings in four stocks DPFD - Deep Field Technology IVOT - iVoice Tech SSWC - Speechswitch Inc IVOC - iVoice Inc 2006/04/28 IVOC does a 1 for 200 reverse split and converts into a new stock IVOI - iVoice Inc NEW 2007/11/21 IVOI spins off a new company TPHM - Thomas Pharmaceuticals 2009/12/31 iVoice Tech renames to B Green Innovations Inc BGNN - B Green Innovations Inc 2011/03/02 Speechswitch Inc renames to Kenergy Scientific Inc KNSC - Kenergy Scientific Inc 2013/09/13 SEC revokes registrations of iVoice Inc NEW 2014/09/26 B Green Innovations does a 1 for 10,000 Reverse Split
So 14 years later I'm left with positions in the following entities:
- iVoice Inc NEW (Completely illiquid as it has been revoked by the SEC)
BGNN is trading at 0.09 but the others are 0.0001. I'm half wanting to sell them just to clean up the clutter in my monthly statement. But I'm half tempted to hold on just to see what other crazy things happen with these companies or maybe this is common for penny stocks.
If I wanted to claim my loss do I have to sell all the positions and just treat iVoice Inc NEW as dead or is there something special you need to do to show you couldn't sell it?