Rules 504 (SGLB can't use this exemption), 505, 506 and 144 all provide for an exemption from registration.
They are restricted.
The restriction countdown starts when the securities are purchased.
They will never be registered.
Not in SGLB's case, I'd wager. Sometimes a company will use a rule while the company tries to register the shares but that's a lengthy and costly endeavor.
Registration won't happen here.
Any common share deals fall under one of three forms of regulation.
All include a 6 month restriction AFTER the shares are registered.
As far as I can tell, the shares have not been registered yet.