Correct, Bill Hodson can be informed by the transfer agent when restrictive legends are removed. But he has to request such notification if he wants it, the transfer agent doesn't normally provide such notification.
Also, in my experience the transfer agent will go ahead and release the restriction after a period of time if the company doesn't object -- and if the company does object then there's effort and expense associated with stopping the shares from being released as free-trading. LiveWire can't afford to spend all of its money and the time of its staff fighting to stop restrictive legends from being removed.
Furthermore, Rule 144 legitimately allows legitimate shareholders to sell as long as there is adequate current information about the issuer published at the time of the sale. In the case of LVVV as a fully-reporting SEC-registered issuer this means that all required reports have been filed.
I believe that all required reports have NOT BEEN FILED because some kind of 8-K filing should have been published to announce certain events, but I can't pinpoint precisely what should have been disclosed without knowing what fundraising and other events have been occurring that have not been adequately disclosed.
And most importantly, LVVV failing to file 8-K reports is a technical rule violation not proof they're engaged in a conspiracy to defraud investors with Dick Weed's help. But clearly they need to make it clear what they ARE DOING so everyone will be able to see that it is reasonable to believe that they AREN'T DOING what it looks like they're doing that would constitute civil or criminal fraud.
