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Re: BigBadWolf post# 10830

Friday, 02/26/2010 4:45:33 PM

Friday, February 26, 2010 4:45:33 PM

Post# of 39254
Thanks,

By the way, that page on the SEC's website is misleading as to current public information. Good thing they're the government or they might get sued!

Current info is only required for reporting entities or for affiliates of non-reporting entities. (see Rule 144 (b)(1)(ii). which makes non-affilates only subject to Rule 144 (d) and 144 (i). Note that Rule 144 (b)(2) requires all conditions of Rule 144 to be met. The reason for this is fairly simple, the SEC doesn't care about non-reporting company investors. Their attitude is, and remains, "Caveat Emptor!"

Rule 144 (i) is necessary for non-affiliates because the entire paragraph (b) is subject to (i).

Paragraph (d) is the holding period and (i) is shell status, although I'm sure you're well aware of this. I state it here only for clarity.