SurgLine International Inc (SGLN)

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Holding Period

Restricted securities must be fully paid for and beneficially owned for a period of at least one year prior to sale.

There is no required holding period for control securities which are not also restricted securities. Therefore, a control person who acquires shares through exercise of stock options, or buys stock in the open market, has no Rule 144 holding period (although he or she may be subject to short swing liability if the shares are sold within six months of acquisition or date options are granted).
Amount to be Sold

The amount of securities which may be sold under Rule 144 during any three-month period is the greater of:

1% of the class of securities outstanding or
The average weekly reported volume of trading in the securities during the four calendar weeks prior to the filing of Form 144 (Notice of Proposed Sale) with the SEC.1

In calculating the maximum number of shares which may be sold, the seller must deduct the number of shares he or she has sold, as well as the number of shares sold within the prior three months by the following:

Relatives who share the same household,
Any trust or estate in which he or she owns or such relatives collectively own 10% or more of beneficial interest or serves as trustee, executor or similar capacity,
Any corporation or entity in which he or she owns or such relatives collectively own 10% or more of the beneficial interests,
A party to whom he or she donated or pledged any such shares as a gift or in pledge for a loan, or
A party selling in concert with him or her.2

Filing of Notice Requirements

A completed original and two copies of SEC Form 144 (Notice of Proposed Sale) must be mailed to the SEC at or prior to the time of placing the sell order. If the security is exchange-traded, a copy must also be filed with the principal exchange.3