Incorporated Productions (fka PROD)

[SoonerBrn]

Let's look at some of the rules concerning rule 144 on your restricted shares in certificate form.....Here are just a couple that can exclude you.

1. Trading Volume Formula. If you are an affiliate, the number of equity securities you may sell during any three-month period cannot exceed the greater of 1% of the outstanding shares of the same class being sold, or if the class is listed on a stock exchange or quoted on Nasdaq, the greater of 1% or the average reported weekly trading volume during the four weeks preceding the filing a notice of sale on Form 144. Over-the-counter stocks, including those quoted on the OTC Bulletin Board and the Pink Sheets, can only be sold using the 1% measurement.


Now the Big One.

2. Can the Securities Be Sold Publicly If the Conditions of Rule 144 Have Been Met?

Even if you have met the conditions of Rule 144, you can't sell your restricted securities to the public until you've gotten the legend removed from the certificate. Only a transfer agent can remove a restrictive legend. But the transfer agent won't remove the legend unless you've obtained the consent of the issuer—usually in the form of an opinion letter from the issuer's counsel—that the restricted legend can be removed. Unless this happens, the transfer agent doesn't have the authority to remove the legend and execute the trade in the marketplace.

They don't have to remove the legend. Companies give away stock certificates all of the time and they can also deem them worthless if they so desire. So you help a company out and they give you some restricted shares in certificate form, why would it not be up to them to ever let you cash those in?

Before you state that the SEC will step in and make them, they won't.

What If a Dispute Arises Over Whether I Can Remove the Legend?

If a dispute arises about whether a restricted legend can be removed, the SEC will not intervene. The removal of a legend is a matter solely in the discretion of the issuer of the securities. State law, not federal law, covers disputes about the removal of legends. Thus, the SEC will not take action in any decision or dispute about removing a restrictive legend.

Last, you are claiming now there are more than 25M+ shares in this form, how has that changed since this post?

JB_Jones Share Friday, November 05, 2010 1:01:28 PM
Re: timmage post# 376 Post # of 800

No, not a paid promoter.

FGBF has been around long before this World Corporate Assets business.

Do you really think nothing took place since 2007 filings? FGBF paid shares to people to purchase assets many times over. They gave shares to people for cash many times over. Ad nauseum.

But, you guys are right...there really are only a few million sitting out there!

Thanks, I just wanted to bring up a few facts from the SEC since it's getting a little old hearing about the certificates. I'm not saying this a guaranteed deal by any means, I just want to move on so we don't have the exact same thing being discussed on here day after day after day.

GL to everyone and have a good weekend.