Buying a penny stock in an IRA account is insane.

Buying a penny stock in an IRA account is insane. Those funds are lost and cannot be replaced! At least if it was in a regular account you would be able to take a capital gains loss!

I am hoping that $26K included some profits that you failed to take and not a total cash loss.

Buyout? What does GDSM have to sell? They own no mining claims, no mining equipment but do have over $700K in current liabilities. GDSM has a negative net worth.

With the errors in their last and current quarterly statements waving huge red flags, their history of late and missing filings, plus their Series E mess, their chances for any up list are zero.