SaviCorp (fka SVMI)

[bly03]

Lindevin,

No, it most certainly does not mean that Cornell can not sell more than 4.99% per year. It simply means that they can not hold more than 4.99% at any one time. So, if they receive 4.99% of the O/S, then proceed to sell it (which they will), they can then receive and sell more.

None of this Cornell selling will occur until a share registration is filed and approved by the SEC. Expect to see a share registration (most likely an SB-2) within the next 45 days.

Perhaps someone more knowledgeable than me can answer whether restricted shares are exempt from the 4.99% rule. Cornell is being issued 30 million restricted shares right up front. That alone would be more than 4.99% of the current O/S.