On a December morning in 2010, the small staff of National Asset Recovery Corp. (NARC) arrived to their Palm Beach Gardens office to find the doors closed and locks changed. With that, their stocks in the company plummeted in value to being worth next to nothing. Since June 23rd, this stock, labeled “REPO” on the pink sheets (penny stocks) has risen from the grave to the positive territory of 0.24.
National Asset Recovery Corp. (NARC). NARC was founded in 2009 by Ballroom Dance Fitness Company and a Casino Player club owner William G. Forhan. Its alleged intent was to be a stock driven roll-up repossession forwarding company. By the end of 2010, this company had garnered unwanted scrutiny by the SEC and by December of 2010, they closed their doors leaving a reported 3 million shares issued and sold, utterly worthless.
In 2019, NARC was conserved by the State of Nevada and placed into the hands of a David Lazar and registered in Reno, NV. What is driving up the value of this stock is unknown, but for anyone still holding these stocks, there perhaps may be an opportunity to recoup some of these long-forgotten losses.
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