Solanbridge Group Inc. (SLNX)

[himotephe]

Those would be David's shares. In order to retire restricted shares, they have to be unrestricted and registered. Since David has a 10% stake, that makes an affiliate under SEC rules. Restricted shares do not show up on the O/S but would be debited under the A/S.

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

David signed off on the order to retire. If he deposited the shares into a brokerage account, it doesn't matter if he never got the restricted legend removed. So Charles has to notify the TA that the restriction is to be removed. The TA then registers the stock and adds it to the O/S. At that point, Charles submits a treasury order indicating amount to be retired to the TA and the TA begins that process as well. Hopefully it isn't slow and they are officially retired next month which brings our float back down.