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Re: jobynimble post# 62382

Wednesday, 08/04/2010 11:45:35 AM

Wednesday, August 04, 2010 11:45:35 AM

Post# of 312016
I think the confusion here is a terminology issue. Once unrestricted, the shares themselves never become restricted again -- they won't have to get sent back to the company or transfer agent to have a new restrictive legend applied, and they won't have to be marked with a "stop" on the transfer agent's books.

However, if the shares are not sold within the 90 days under Rule 144, the would-be seller will be required to start over with a new Form 144, new representation letters, current opinion of counsel, etc. While the shares themselves are not "restricted," their sale will be.