Big,
re: "What about the time line on the restricted shares that were issued as payment for services in lieu of cash?"
I have 2 answers:
#1, and most reliable answer is "I don't know for sure".
#2:
I believe the officers of the company were issued common shares (versus Class B) in lieu of cash for salaries a number of years ago. To the extent that they were restricted I'm quite certain that whatever period applied has expired.
If you were asking about shares issued to non-employees, as in the following that were reported in the last 10Q filed....
"On July 16, 2008, the Company issued an aggregate of 2,253,436 shares of common stock to Sichenzia Ross Friedman Ference LLP as compensation for legal services rendered to the Company.
On June 2, 2008, the Company entered into a consulting agreement with R.F. Lafferty & Co., Inc. pursuant to which R.F. Lafferty & Co., Inc. agreed to provide certain strategic financial and advisory services to the Company for a two-year term. In consideration for their agreeing to act as a consultant, the Company agreed to issue an aggregate of 2,000,000 shares of common Stock to R.F. Lafferty & Co., Inc."
.....I believe that those shares are issued free of restriction and are available for immediate sale. I THINK (see answer #1) that restriction only applies to 1)employee issuances and 2)Sales of shares that are not also offered for sale to the public.
Wish I could give you a more certain answer.
