Ok so I think we've established that I'm not a miltitasker, right? But once my flight left, I really couldn't stop thinking about this issue regarding the restricted shares. As rule 144 applies to pinks, the owner of the restricted shares cannot - during any 3 month period - sell more than 1% of the outstanding shares of the class being sold. I think this means we should be working with the 34M restricted shares number but since I'm not sure, let's just use the 42M OS number. That works out to be 420,000 shares (thanks ElisComing!). Excluding holidays, there are 60 trading days in every 3-mo. period, SO.... assuming the seller is required to adhere to this rule, they wouldn't need to unload more than 7000 shares/day. I don't see anything that says they can't dump the entire amount all at once but I can't imagine a scenario where it would be in their best interest to do so.
Also, since the "more than 5000 shares" criteria would apply here, I know they would have to file a form 144 if MGQG were on a better exchange. Does anyone know if the following rule applies to pinks as well???
If you are an affiliate, you must file a notice with the SEC on Form 144 if the sale involves more than 5,000 shares or the aggregate dollar amount is greater than $50,000 in any three-month period. The sale must take place within three months of filing the Form and, if the securities have not been sold, you must file an amended notice.
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