Cannabis Report
Lithium
Home > Boards > US OTC > Internet - Online Services > Wave Sync Corp. (WAYS)

When a company issues stock, the recipient is

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (3) | Next 10 | Previous | Next
matrix Member Profile
 
Followed By 29
Posts 4,064
Boards Moderated 0
Alias Born 08/01/04
160x600 placeholder
matrix   Monday, 04/02/07 09:43:06 PM
Re: 2ligit2quit post# 980
Post # of 2467 
When a company issues stock, the recipient is restricted from reselling it unless:
-- he's held the stock for a certain period of time (normally one year or more); OR
-- a registration statement is filed and deemed effective; OR
-- the issuance falls under an exemption to registration

Stock issued as part of a bankruptcy reorganization plan happens to fall under category #3. In other words, the stock can be immediately free-trading and sold into the float if they so desire. Since the filings say they want to do a merger, they'll probably retain enough to keep control. It's possible the BK order may restrict how much they can sell prior to the merger occurring.





-----
"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."
-- Warren Buffett
Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (3) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist