Florida Micro, Inc. (fka FLMCQ)

[jaxstraw]

I'm a bit confused with this item......

Resales
All 92,727,818 shares of our issued and outstanding common stock are “restricted securities” under Rule 144, promulgated pursuant to the Securities Act of 1933, as amended, and 2,489,509 are eligible for resale pursuant to Rule 144.

If the O/S is 92,727,818,

We are authorized to issue 250,000,000 shares of common stock and 10,000,000 shares of preferred stock. As of the date of this Information and Disclosure Statement we had 92,727,818 shares of common stock outstanding and held by 446 stockholders of record.

...then how is it all restricted under Rule 144 ?

But the float is miniscule...

Common Stock (1) (2) (3) (4)
Fiscal Year End
Fiscal Year End
Quarter Ended
Period End Date
12-31-09
12-31-10
03-31-11
Common Shares Authorized
40,000,000
40,000,000
40,000,000
Common Shares Outstanding
35,948,272
35,948,272
359,483
Free Trading Common Shares
12,966,272
12,966,272
129,663