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Re: janice shell post# 10152

Wednesday, 08/24/2016 3:16:05 PM

Wednesday, August 24, 2016 3:16:05 PM

Post# of 108007
In all honesty, I can't defend H Wayne because I also personally do not know him. As of right now, we are two sides of a coin on the matter. We will have to see and "hope" he is a decent human being and doesn't become a repeat offender. He's either been clean for 16 years, or not caught. Like a said though, two sides of a coin.

Read up on the Evergreen rule. I will conduct some more reading on the matter but this is what I figured so far:


1.) Rule 144
When you acquire restricted securities or hold control securities, you must find an exemption from the SEC's registration requirements to sell them in a public marketplace. Rule 144 allows public resale of restricted and control securities if a number of conditions are met.


The information I received is from the SEC website.

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

2.) The Evergreen Rule
Rule 144(i), as amended, states that Rule 144 is not available for the resale of securities initially issued by a former shell company unless the following two requirements are met:

a. One (1) year has passed since the Issuer filed current “Form 10 information.” What is Form 10 information? It is the information that would be required if the Issuer were filing a general form for registration of securities on Form 10 under the Securities Exchange Act of 1934, or under an S-1, which reflects its status as an entity which is no longer a “shell”; and

b. The Issuer is current on all reports required to be filed with the SEC during the One (1) Year before the shareholder elects to sell shares.


There are several websites that provide a description of the rule. One of the websites I took the definition is linked below.

http://otclawyers.com/what-is-the-evergreen-rule-under-rule-144/

The Evergreen rule does apply's to TRON. Even so, this is only a disadvantage in regards to the Merger/APO process. The Merger and APO can still be completed.

So yes, financing can and may be hard to come by especially in the case for a shell company. From the Press Release and progress made so far, it seems they have plans for that. I don't know why they would issue a PR about a Merger and APO if they did not. IMO it won't be an issue. Regardless, we will all find out by the end of the third quarter.