Hopeful Thread

[LongNautilus]

November2025: no shares reported as traded. Third month ever.

https://www.otcmarkets.com/stock/NUSMF/overview

[LongNautilus]

Doesn't this describe an active stock / symbol on the OTC Expert Market? Why is NUSMF still active?? The underlying company has not only not filed in six years, but was "legally" liquidated too. I've never seen this go on for so long before....

Warning! This security is eligible for Unsolicited Quotes Only

This stock is not eligible for proprietary broker-dealer quotations. All quotes in this stock reflect unsolicited customer orders. Unsolicited-Only stocks have a higher risk of wider spreads, increased volatility, and price dislocations. Investors may have difficulty selling this stock. An initial review by a broker-dealer under SEC Rule15c2-11 is required for brokers to publish competing quotes and provide continuous market making.
Warning! This security is traded on the Expert Market

The Expert Market® serves broker-dealer pricing and investor best execution needs. Quotations in Expert Market securities are restricted from public viewing. OTC Markets Group may designate securities for quoting on the Expert Market when it is not able to confirm that the company is making current information publicly available under SEC Rule 15c2-11, or when the security is otherwise restricted from public quoting. See additional information about the Expert Market here.

https://www.otcmarkets.com/stock/NUSMF/overview

[steelrat]

The fact that it continues trading (on what’s called the OTC Markets Group “Expert Market”) is not unique — and it follows from how U.S./OTC markets treat delisted or non-reporting companies. Here’s how it works, and why your description matches what’s allowed.

Why a “liquidated” or delisted company’s shares can still trade

When a company is delisted from a major exchange (or liquidated), its shares don’t automatically vanish — the owner still holds the shares, unless there’s a corporate action that explicitly cancels or redeems them.

Those shares may simply be moved to over-the-counter (OTC) trading venues rather than being listed on a formal exchange.

The OTC world includes different tiers. Some OTC-traded companies continue to disclose financials (so they qualify for higher tiers like “OTCQX” / “OTCQB”), but many — especially defunct / liquidated / no-info companies — do not meet disclosure requirements.

For companies with outdated or missing disclosure, their securities may be designated to the “Expert Market.” That tier is explicitly for “No-Information” securities, including defunct or bankrupt issuers.


Thus, even if a company was liquidated, unless its shares were formally cancelled or redeemed, those old shares can still exist and legally be traded — albeit under very different conditions.


What “Expert Market” means — and why quotes / trading are restricted

Because the issuer no longer provides current information (or perhaps no longer exists in operational form), the Expert Market has tight rules:

Quotes come only from unsolicited customer orders — i.e. a broker-dealer may post a quote only if a customer submitted a non-solicited limit order.

Public quoting and continuous market-making are effectively disallowed — so you won’t see regular bid/ask quotes, volume, or market-depth data like with listed/healthy companies.

Only broker-dealers and qualified (often institutional) investors may view or participate in quotes — retail investors generally have very limited visibility/access.

Liquidity tends to be extremely low, spreads wide, and price dislocations common.


In short: the Expert Market is effectively a “dark” marketplace for brittle, low-information, often defunct or distressed securities. That makes it risky and volatile, and often only of use to certain kinds of broker-dealers or sophisticated investors.


How this applies to our case (liquidated company + trading shares)

The company may no longer operate, but unless its shares were cancelled or redeemed at liquidation, the shares still legally exist.

Because the company went dormant / did not continue disclosures, its stock was relegated to the lowest OTC tier (Expert Market / “No Information”).

Brokers may still process trades if there are willing buyers/sellers, but only on an unsolicited, order-by-order basis — hence there may be the occasional trade or quote, even years after liquidation.

Public data is scarce; liquidity is poor; risks are high.


Many resources on what happens to delisted or bankrupt companies’ stock explain this dynamic — that “delisting ≠ automatic elimination of shares.”


What this means for us sharholders

Holding such shares is often analogous to owning a lottery ticket: they can trade, but their value and liquidity are unpredictable, and there may be no real fundamental value behind them.

Selling may be very difficult or only possible through direct broker-dealer negotiations.

Even if there’s a “last trade” price, that may not reflect the price at which you can actually sell your shares — there might be no buyer.

[Bille2271]

The price per share cannot go any lower than the 0.000001 per share price. One one-millionth of a penny. When it rarely does go to 0.00001 = 0ne one-hundred thousand of a penny is an improvement of the stock of 900%. Mawarid Mining touts in their linked in "about" "Largest shareholder in Nautilus Minerals Inc (TSX - Nus.TO) 28% exploring and developing the Polymetallic in Solwara 1 Project in Papua New Guinea. The government of Papua New Guinea still states that they hold a 15% stake in the Solwara project. Both of these entities are firmly believing that they have value with these shares that are worth one one-millionth of a penny.

Not selling my shares......

[steelrat]

They will never get their hands on my shares either!

[LongNautilus]

Steelrat: that is the most detailed explanation I've read in 6 years. Thank you for posting.

I am with you guys: I will NEVER relinquish my shares. Ever.

New deep sea mining tracking website:

https://www.deepseaminingwatch.msi.ucsb.edu

[Bille2271]

We moved two digits to the left!!! 9,900.00% move today!!!!!

[steelrat]

We moved two digits to the left!!! 9,900.00% move today!!!!!

I'm at €9.13 again. ;-D

[LongNautilus]

On the chart section, fourth button on the left is "trade view". Double click for daily trade volumes. 12/8/25 shows a total volume of 298,689. The section below the chart section is Trade Data and shows only 11,000 shares being traded on that day. Are more shares being traded than being reported?


https://www.otcmarkets.com/stock/NUSMF/overview

[LongNautilus]

U.S. Takes a Step Toward Approving Seabed Mining in International Waters - The New York Times https://share.google/P3XXQnjw7VJvFUw11