AI
Sunday, June 22, 2008 12:42:19 AM
What percentage of the stock that Urbie issued was restricted?
When an individual or company does a deal with an OTC company there is an automatic six month restriction on their shares that can only be lifted by the OTC company in conjunction with the transfer agent.
I found this on an old option where the company never got the restriction lifted for the Buyer and then went out of business.
"The Buyer agrees to assist at all times the Seller in removing the restriction legend on all the restricted shares after the designated hold period is over."
I am not bound to please thee with my answers. William Shakespeare, Greatest English dramatist & poet (1564 - 1616)
When an individual or company does a deal with an OTC company there is an automatic six month restriction on their shares that can only be lifted by the OTC company in conjunction with the transfer agent.
I found this on an old option where the company never got the restriction lifted for the Buyer and then went out of business.
"The Buyer agrees to assist at all times the Seller in removing the restriction legend on all the restricted shares after the designated hold period is over."
I am not bound to please thee with my answers. William Shakespeare, Greatest English dramatist & poet (1564 - 1616)
I am not bound to please thee with my answers. William Shakespeare, Greatest English dramatist & poet (1564 - 1616)
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