We Will Tell You What You Need To Qualify Under Rule 144
Time Requirements Under Rule 144
Most disqualifications are due to timing–the Shareholder has not owned the stock for long enough, and can’t “tack onto” the previous holder’s ownership. When the required time period under Rule 144 passes, we’ll be ready to go. We’ll tell you when.
Other disqualifications are due to missing documents or inconsistent documents. Sometimes there is not enough information (especially on non-reporting companies) for the securities attorney to determine if the requirements of Rule 144 have been met.
On other occasions there are incorrect dates or ambiguous information that needs clarification by company executives or the Shareholder.
One issue that comes up repeatedly is when fees paid in stock for “consulting services” were actually earned. The dates and the language in the Consulting Agreements sometimes needs correction or clarification by the company’s CEO via affidavit or letter. We will tell you exactly what is needed and help track it down.
When the appropriate documents are eventually located, we are ready to complete the 144 letter process for the Shareholder, often within just a couple of hours, since most of the research will have already been completed.