Spotlight Innovation Inc. (fka STLT)

[Ecomike]

I pulled this off of today's latest SEC filling:

"The Mainland Shares issued to American Exploration Shareholders in the Merger, the Mainland Exchange Options and the Mainland Exchange Warrants will be registered under the Registration Statement. However, the Mainland Shares issued to American Exploration Shareholders in the Merger, as well as the Mainland Shares issued in the event of exercise of the Mainland Exchange Options or Mainland Exchange Warrants issued in exchange for American Exploration Options and American Exploration Warrants, as the case may be, shall be subject to resale restrictions under British Columbia Instrument 51-509 – Issuers Quoted in the U.S. Over-the-Counter Markets. In addition, the Mainland Shares issuable upon exercise of the Mainland Exchange Options and upon exercise of the Mainland Exchange Warrants will not be registered under the Registration Statement, and, upon issuance, will constitute “restricted securities” as defined in Rule 144(a)(3) under the 1933 Act."

I am wondering what this means? Any know what this means for US share holders after the merger?
This was an update to the prior SEC filing which simply said the shares would be restricted period, with no further details. This says they will be registered (the prior SEC filing did not say that as far as I could tell, in fact it took great care to point out the lack of liability by Mainland if they failed to register them, so this update sounds much better, but still leaves questions).

Also there is a new SEC filing showing a director getting (acquiring) 1/2 million new shares for .05 last week, but does not say why?
I called the number on the SEC doc and got a voice mail at AEXP in Canada, that says to call Andrew at 877-818-8484, AEXP investor relations for more details. I am now waiting for a return call to get some answers, hopefully.