FOR ANYONE struggling with the relevance of the Restricted Legends, etc..
As I have REPEATEDLY STATED: ALL SHARES issued by NanoTech carry a restrictive legend. NTEK has never issued a single share that does not carry such restriction. NanoTech does NOT have the ability to issue shares WITHOUT a restrictive legend.
Shareholders must meet all of the requirements of Rule 144 to have a legend removed; & NTEK cannot remove it. They must have, at minimum, an opinion letter from an SEC attorney that all of the holding period (& other requirements) have been met by the shareholder & the company to remove the restriction.
Then the shares are submitted to the Transfer Agent, who reviews everything & then requires further paperwork to ensure adherence to the Rules.
Once satisfied that everything under Rule 144 has been met, then & only then will the Transfer Agent cancel the restricted shares & issue unrestricted shares: NTEK cannot do this & has NO ability to instruct the Transfer Agent to do so.
The whole concept of a Transfer Agent is a "checks and balances" system. The company can’t actually issue any shares, they can only provide the TA with the documentation & the request to issue shares. The TA has the sole power to actually issue the certs.