Bourque Industries Inc (BORK)

[Flatcat]

Here's what my broker says about this issue.

1. They will not accept deposit of restricted stock certificates. This makes sense to me, and confirmed by Fidelity, that there is no value in depositing restricted stock into an account. It is restricted and therefore has to be flagged and handled differently because it cannot be traded. The broker would then be dealing with and tracking this throughout the exchange process to unrestricted stock. They receive no value for this hassle.

2. They will accept unrestricted BORK stock certificates. It is the same as what you buy OTC.

3. Removing the restriction status is the obligation of the certificate owner. After the expiration of the restriction, the stock certificate must be sent to the transfer agent, who with the permission of the issuing company, may issue an unrestricted stock certificate. This is outlined in detail at: [url]http://www.sec.gov/investor/pubs/rule144.htm

Fidelity had no problem accepting unrestricted stock certificates for Bourque Industries. At least this is what I was told by the representative.

If you have a reference to the FINRA rule about not being able to deposit unrestricted stock certificates please provide same. FINRA rule 144 applies only to restricted stock.