Currently, in order to raise capital, Baltia only sells shares via "Private Placement".
These shares have a 6 month restriction on tradeability, hence they are "unregistered" at the time they are purchased.
After 6 months, the shares can be converted (DWACed) into "street name", which means they come off the pretty little certificate Baltia issues and can be deposited into a brokerage account - for trading on the open market.
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