31

I'm a complete novice in regards to investing and had purchased some shares of OXIS from TD Ameritrade back in March of 2015 (NASDAQ). The company (OXIS International) became very devalued and did a "mandatory reverse split" and changed symbol to OXISD in December of that year... assuming it was delisted and moved to OTC?

Since then, the symbol disappeared from my "positions" within TD Ameritrade, as if there is no longer a record of me having anything. It seems the company sold to "GT Biopharma, Inc."

Does this mean I no longer own any shares? If I do, how would I go about finding them?

My final TD Ameritrade transaction history appears as:

  • 03/27/2015 - Bought OXIS @ 0.0449
  • 12/16/2015 - MANDATORY REORGANIZATION FEE
  • 12/16/2015 - MANDATORY REVERSE SPLIT (OXISD)
  • 12/17/2015 - MONEY MARKET REDEMPTION

Nothing else since then, however I did look into "statements" and it does show some relation to OXIS INTL:

Margin Div/Int - Securities Sold OXIS INTL 1:300 R/S 8/21/17 36254L100

Did they just turn all my previous shares into nothing basically?

  • 2
    Did you keep a paper trail? Your monthly statements would show whatever the transition was. And - did you ask the broker? Last - it appears that OXISD still trades, article from yesterday – JTP - Apologise to Monica Sep 6 '17 at 16:28
  • Yes, at least everything within TD Ameritrade account via transaction history. Updated my question with the results. – Joe Sep 6 '17 at 16:49
  • 8
    "I'm a complete novice in regards to investing and had purchased some shares of OXIS" That's a very common way of getting experience, although somewhat costly. – Trilarion Sep 7 '17 at 9:12
32

GT BIOPHARMA, INC. ANNOUNCES REVERSE STOCK SPILT AS PART OF OXIS-GEORGETOWN PLANNED MERGER

LOS ANGELES, CA / ACCESSWIRE / August 21, 2017 / GT Biopharma Inc. (formerly known as Oxis International, Inc.) announced today a 1-for-300 reverse stock split. Shareholders of GT Biopharma Inc. (OTCQB: OXIS and Euronext Paris: OXI.PA) will be issued 1 share of common stock for every 300 shares common stock that they owned.

If you owned fewer than 300 shares, they cashed you out.

  • 2
    Ok, I do see what's happened. This seems to be the 2nd reverse split since I had the account. Basically my shares have fallen to be worth absolutely nothing. After the 1st split, my 11k shares dropped to 44. Now with this 2nd split - the shares are just evaporating to nothing as per Aganju's comment below, as I can't own fractional shares- correct? – Joe Sep 6 '17 at 17:03
  • 4
    Sorry, fellow Joe, that's about it. It's happened to all of us eventually. – JTP - Apologise to Monica Sep 6 '17 at 17:13
  • 10
    @Joe well not into nothing. You should have been cashed out. – Rob Rose Sep 6 '17 at 18:56
  • 17
    His statement said Money market Redemption. Probably too small a dollar amount to notice among interest and dividends, but you are right, 'cashed out'. – JTP - Apologise to Monica Sep 6 '17 at 19:05
  • 7
    @jiggunjer You are always at the mercy of a majority shareholder vote to do something you personally disapprove of. It's just one of those things that comes as part of the deal. And, sadly, getting a dollar or so back in cash is better than having a holding which is likely worth less than the trading fee. – richardb Sep 7 '17 at 8:05
20

You can't own fractional shares.
If the Reverse Split resulted in you having less a full share (for example, if you had 500 shares, and they did a 1000:1 reverse split), your fractional share was cashed in (sold). That could be that 'money market' activity shown on the next day?

It is your responsibility to be prepared for a reverse split, by either selling at your desired price, or buying more shares, so you end with an integer number of shares after the reverse split.

  • 1
    Well, you 'can' , but typically not from a reverse split. I have gotten fractional shares as a result of dividend reinvestment. Also from employee stock purchase programs that invested an exact number of dollars and bought fractional shares. – JTP - Apologise to Monica Sep 7 '17 at 14:23
  • 8
    That would be because your shares are managed by a company. They handle all the fractional shares, and hold the reminder to the full next integer on their own. If you trade individual shares, it's whole shares only. – Aganju Sep 7 '17 at 14:42

protected by Chris W. Rea Oct 3 '18 at 21:39

Thank you for your interest in this question. Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site (the association bonus does not count).

Would you like to answer one of these unanswered questions instead?

Not the answer you're looking for? Browse other questions tagged or ask your own question.