Michelex Corp (fka MLXO)

[sawdin]

In my opinion, many of the restricted shares are from a long time ago. Michelex is a 'non-reporting company', and as such, in order to have a restriction lifted (i.e., removed), the owner of the restricted shares, after waiting for one year, needs to get an opinion from the corporate attorney noting that the restriction can be removed. My guess is that many holders of restricted shares have failed to do so. Some may have believed that the shares were worthless (based upon the share price and/or volume) so why bother going through the hassle and expense of having the restriction removed.