Tag Archives: restricted stock transfer

When are Rule 144 Opinions Not Issued?

We do not issue Rule 144 legal opinion letters for every Shareholder who contacts us.  Why?   Sometimes this is due to the Issuer’s current shell status, or the fact that the Shares are simply not old enough.  These are easily … Continue reading

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Is a Pink Current Issuer “Fully Reporting” Under Rule 144?

Current Public Information Under SEC Rule 144 Yes, even though Pink Sheets are not “SEC reporting” a Pink Current Issuer on OTCMarkets.com can be considered “fully reporting” under Rule 144. One of the important elements of SEC Rule 144 is … Continue reading

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Do I Need a Broker To Obtain A Rule 144 Opinion to Sell Restricted Stock?

Under Rule 144 Only Affiliates of the Issuer Need a Broker to Sell Only an Affiliate of the Issuer must engage a Broker in order to sell stock of the issuing company (both restricted and unrestricted stock) into the public … Continue reading

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After I Sign SEC Form 144, How Long Do I Have To Sell My Restricted Stock?

Ninety (90) Days.  As an Affiliate of the issuer, your Form 144 is valid  for three (3) months from the filing date. But if some of your 144 restricted stock remains unsold after that time frame, you can fill out … Continue reading

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Are You An Affiliate Under Rule 144?

Affiliates Exhibit Access and Control Over Issuing Companies If you are or were an executive, officer, insider of the company, trustee, close advisor or a spouse or family member of one of those people, chances are good you might be … Continue reading

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What is a Rule 144 Opinion Letter?

144 Letters Follow Careful Investigation By Securities Attorneys A Rule 144 Opinion Letter is written by a qualified securities attorney after careful investigation of a company’s history, prior SEC filings, and other supporting documents signed by the Shareholder and company … Continue reading

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Transfer Agents Require 144 Opinion Letters from Qualified Securities Attorneys

Why You Need An Experienced Securities Lawyer to Draft Your 144 Opinion Remember that the purpose of a 144 letter is to provide the Transfer Agent for the company’s stock with a comfort level that the legal opinion is coming … Continue reading

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How Can A Former Shell Company Sell Stock Under Rule 144?

Blank Check or Shell Companies under Rule 144 Under the new SEC Rules, since February 15, 2008, Rule 144 has not been available for the resale of securities initially issued by either a reporting or a non-reporting shell company or … Continue reading

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Are There Volume Limitations on Sales of 144 Stock?

Rule 144 Volume Limitations on the Sale of Restricted Stock Under Rule 144, the amount of securities that may be sold by Affiliates in any three (3) month period is the greater of: 1% of the class of securities outstanding; … Continue reading

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Who Can Remove a Restrictive Legend on 144 stock?

Only the stock issuer’s Transfer Agent can remove a restrictive legend. The Transfer Agent usually will not do so without the issuer’s consent and an attorney opinion letter which is why you’re here at 144letters.net–you need a 144 legal opinion … Continue reading

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