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Brent Blanchard
Brent Blanchard, Attorney
Category: Legal
Satisfied Customers: 1975
Experience:  Twelve years of experience in estate planning and probate, consumer bankruptcy, and business law.
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I have a certificate of Common Stock Companies, Inc. issued

Customer Question

I have a certificate of Common Stock for Fleming Companies, Inc. issued in 1998. How do I find out if it has any value?
Submitted: 1 year ago.
Category: Legal
Expert:  Brent Blanchard replied 1 year ago.

Thank you for your question.

Unfortunately (and I did this for several months for an estate), it generally takes examination of the stock certificate itself, and about $200-$500 worth of fact investigation to track down current status of stock certificates.

The Terms of Service here do not let us Experts in Legal provide personal legal services or contact each other directly. To see if a company's stock was ever publicly traded and its current status, we need to find the CUSIP Number for that specific company's issues. Do you have that?

Thank you.

BAB.

Customer: replied 1 year ago.
I have the CUSIP Number. It's 339130 10 6 and the number of shares is 141 (if that's needed too).
Expert:  Brent Blanchard replied 1 year ago.

Here ya go.

We got lucky and the trail had only one detour.

Fleming Companies is a micro-cap stock, their business is merchandising and it looks like they owned grocery stores or something. Symbol changed to FLMIQ when they filed Chapter 11 in 2013.

It's traded on the Pink Sheets (as in with "penny stocks"). Or was. I tried about five quote services starting with NASDAQ and going into some Pink Sheets resources before finding that Bloomberg finance [ http://www.bloomberg.com/quote/FLMIQ:US ] says the ticker has been DE-listed.

Another source (and this has my Google-fu search skills paring results down to only 1,120 search results) says:

"On March 29, 2004, Fleming filed a second amended disclosure statement in support of the second amended plan of reorganization. The $1.4 billion outstanding face value bonds are grouped as general unsecured debt according to the plan. However, some objections to this plan were voiced. A third amended plan has been proposed and will receive a hearing on May 25, 2004."

from: http://www.businesswire.com/news/home/20040521005088/en/Zacks.com-Announces-Richard-Lehmann-Highlights-Issues-FiberMark#.VgSSWflViko

So without taking the extra time to look up their bankruptcy case or otherwise see if they are even still in business, my best guess for this price and the lack of their ticker symbol bringing ANY current quotes even from penny stock sources (okay, only two but the time investment is a bit out of hand), is that it's worth whatever you can get some unsuspecting Rube to pay for the paper. I doubt that you could even find a transfer agent to register the transaction.

Expert:  Brent Blanchard replied 1 year ago.

Correction on typo, the Chapter 11 filing is as you said, in 2003.

Looked a bit more and it appears that C&S Wholesale bought Fleming's assets out of bankruptcy in a deal signed in July of that year. Quick for a bankruptcy case.

By the way, I got Google down to 59 results on this one. It's been a bit more than a month since I got a 1 or ZERO search result...

Customer: replied 1 year ago.
First, please let me apologize for the long delay in responding to your findings. I am truly sorry. I have been ill and had totally forgotten I asked this question in followup.Although I appreciate all the work/research you have done in order to answer my question, I'm not sure I understand your findings. Are you telling me it's worthless? Or are you telling me I need to do more research on it to know?

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