Sunday, January 20, 2008 12:31:07 AM
I have read this ammendment several times and I am of the 'opinion' that the rule for non-reporting companies was simply NOT changed from what it has always been. I profess that it may be very confusing to many including myself. But, that being said, from what I understand it upheld the rule of a 1 year holding requirement for restricted shares of a non-reporting company. It reduced the one year requirement to 6 months for a REPORTING COMPANY only. Please understand this is a layman's point of view after reading the cold text through and through. For any one wishing to read it I am providing the link below. I hope this is not taken as anything other than an effort to help make sure all investors in pink sheet companies are armed with every bit of knowledge available.
http://www.sec.gov/rules/final/2007/33-8869.pdf
Sincerely,
jagram
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