Category Archives: Uncategorized

Shareholders in Current or Former Shell Companies

Rule 144 Opinion Letters Cannot Be Drafted for a Current Shell Few things are more frustrating than “shell status” to OTC shareholders with restricted stock in microcap companies.   Why?   Because Rule 144 cannot be used to clear restricted … Continue reading

Posted in Affiliates under Rule 144, Rule 144, Rule 144 Attorney, Rule 144 Lawyer, Rule 144 Opinions for Pink Sheets, SEC Rule 144 Opinion Letter, Section 4(a)(1) Attorney, Section 4(a)(1) Lawyer, Uncategorized | Tagged , , , , , , , , , , , , , , , | Comments Off on Shareholders in Current or Former Shell Companies

When Can I Have the Restricted Legend Removed From My Stock Certificates?

Is the Shareholder an Affiliate of the Issuer? If you are now, or have been within the previous 90 days, an Affiliate of the Issuer, you cannot have them removed (yet).   All Affiliate stock is subject to volume limitations and … Continue reading

Posted in Rule 144, Uncategorized | Tagged , , , , , | Leave a comment

What is Rule 144?

Rule 144 Rule 144 requires shareholders who own restricted or control stock to sell only limited quantities, and to report the sales by filing a Form 144, Notice of Proposed Sale of Securities with the SEC.  Restricted stock must be … Continue reading

Posted in Uncategorized | Tagged , , , , , | Leave a comment