Bakken Energy Corp. (BKEN)

[DragonBear]

When do restricted shares become unrestricted?

1 year. That's assuming BKEN consents to the legend removal via the company lawyer to the Transfer Agent.

Per the SEC:

Even if you’ve met all the conditions of Rule 144, you still cannot sell your restricted securities to the public until you’ve had the legend removed from the certificate. Only a transfer agent can remove a restrictive legend. But the transfer agent won’t remove the legend unless the issuer consents—usually in the form of an opinion letter from the issuer’s counsel to the transfer agent.

If you want to remove the restrictive legend, you should contact the company that issued the securities—or the transfer agent for the company’s securities—to ask about the procedures for removing a legend. If you have a broker, you may want to ask your broker to help you.

You can also try going through your broker, where YOU pay for a legal opinion letter. Which goes to the TA, who then has to get approval from the company to remove the legend. Unknown how the TA would be able to contact management, apparently still vacationing in the Gobi desert.

The bottom line is you have to add up the total expense to get the legend removed, and then calculate if there's a reasonable chance of making any profit by selling them. GL.

Anutter link for ya