Rightsmile, Inc. (RIGH)

[Burn Notice88]

Salvatore R. Tuzzolino. RIGH's largest shareholder.

Well, sort of. Let's remember, Mr. Tuzzolino's shares are restricted, and likely not yet vested.

Here’s what the SEC has to say about restricted shares:

"Filing a Notice of Proposed Sale With the SEC. If you are an affiliate, you must file a notice with the SEC on Form 144 if the sale involves more than 5,000 shares or the aggregate dollar amount is greater than $50,000 in any three-month period. The sale must take place within three months of filing the notice and, if the securities have not been sold, you must file an amended notice."

"Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing of a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement."

http://www.sec.gov/investor/pubs/rule144.htm

And here’s what Bryan Springmeyer,a California corporate attorney who represents startup companies, has to say about restricted stock:

“Vesting stock is stock which is granted to a holder that has contractual restrictions placed upon it until certain conditions are met. The “vesting” occurs when the conditions are met and the stock becomes free from the contractual restrictions. This mechanism allows for vesting upon the occurrence of certain performance metrics by the founder, or passage of time, and is used as incentive for the continued contribution of Venture Capitalist (VCs).

A vesting period with a one year cliff (per se) is designed to prevent Venture Capitalist from bailing on a struggling startup and taking a huge equity chunk with them. For instance, if a VC left in the early months of the corporation, taking their equity share, and the remaining cofounders subsequently built a successful company which is acquired for several million dollars, the departing VC could become a millionaire despite abandoning the company. Additionally, if a co-VCs cannot work well with the CEO and/or other co-VCs, and is forced out, their vested equity will be based upon the amount of time they spent with the company.

This arrangement is popular, because investors and founders agree that the first year of a tech {MJ} startup is formative and unprofitable, and that if any VC leaves during that time, they should not be entitled to any equity in the company which is made valuable by the execution of the business plan after their departure. Thereafter, the value of the company comes incrementally from the efforts of the VCs, making the monthly vesting appropriate.”

So what do we know about Mr. Salvatore R. Tuzzolino?

Seems like a pretty standup guy, IMO...

He is definitely an investor. He's also into Real Estate - he owns property all over the US. He was President and Founder of Class, Inc. Mr. Tuzzolino's outside activities include serving on the Duke University Alumni Admissions Advisory Committee. He also has foreign language skills in reading, writing, and speaking Spanish and Portuguese. He was also inducted into the Cambridge Who's Who.

http://www.zoominfo.com/p/Salvatore-Tuzzolino/1511922865

http://biz.yahoo.com/e/110906/plff8-k.html

http://www.bizapedia.com/people/SALVATORE-TUZZOLINO.html

http://purduecal.edu/cca/alumni/index.html

http://www.publicrecords.com/people-search-records/sal-tuzzolino

http://www.city-data.com/coconino-county-az/E/E-Pine-Road-4.html

http://www.city-data.com/coconino-county-az/E/E-Wingfield-Road-5.html

http://legacy.co.mohave.az.us/depts/assessor/prop_info.asp?PARCEL=335-08-092++++++++++&YEAR_CODE=CY

http://capgain.ca/wp-content/uploads/2013/03/17100-Villa-Glen-Appraisal.pdf

http://www.sc-pa.com/testsearch/parcel/details?strap=0954-14-2532

http://asdb.co.nye.nv.us:1401/cgi-bin/asw301?Parcel=3639130&DocNum=%20%20%20771668&DocSfx=

http://www.ezdata.org/property/us/fl/C52-000-543-3234-1/NO-SITUS-FORT-MCCOY-FL-32134

http://webcache.googleusercontent.com/search?q=cache:F2I0rbJaDKgJ:www.etypeservices.com/SWF/LocalUser/scledger1//Magazine10893/Full/files/assets/basic-html/page19.html+&cd=4&hl=en&ct=clnk&gl=us

Appears Angel made a sound choice bringing Mr. Tuzzolino on board.


BN