Yes, that is correct: legally Marley can't sell unregistered shares.
Let's be clear here. I'm theorizing as to why we have a single MM (NSDQ) pounding us on the daily since August 31st.
Marley principals and Coco Libre principals probably aren't chummy. It's a stretch. But 2.2M shares should be doing this much damage. Neil and Julie sold 500K+ shares over 4 trading days, a week apart. It was absorbed efficiently.
Our 3 biggest trading days since August 31 are August 31 (2M+ share volume day and when it all began IMO), October 6 (I noted more aggressive selling at that time, I think they were behind schedule), and November 1st.
I think they're behind schedule against based on Friday's late day sellout. December 1st-ish or later, should see the 4th highest trading volume day since August 31.