Geopulse Explorations, Inc (GPLS)

[Controlledoilandgas]

The holding period for restricted securities under Rule 144 of the Securities Act depends on whether the company that issued the securities is a reporting company:

Reporting companies: The holding period is six months. Reporting companies are subject to the reporting requirements of the Securities Exchange Act of 1934.

Non-reporting companies: The holding period is one year.

The holding period begins when the securities are purchased and paid for.

Rule 144 also includes other requirements for selling restricted securities, such as:

Public information

There must be enough public information about the company, including financial statements, information about officers and directors, and a business description.

Selling limits

Affiliates of the company can't sell more than 1% of the company's outstanding shares in any three-month period.

Trading conditions

All normal trading conditions must be met, such as brokers not soliciting buy orders.
Notice

Affiliated sellers must file a notice if the sale is worth more than $50,000 in a three-month period, or if more than 5,000 shares are being sold.

Rule 144 applies to both insiders and non-insiders of a company