6. Who prepares the paperwork and who submits the request for removal of the Rule 144 legend to the Company’s stock transfer agent?
Your stock broker (or bank) is responsible for (a) preparing the appropriate documents (seller’s representations letter, broker’s representations letter, Form 144, legal opinion and attachments, stock power, etc.), (b) obtaining your signatures on documents as required and (c) submitting all necessary documents (including the original stock certificate[s]) to the Company’s stock transfer agent. A copy of these documents will also be submitted to the Company. The Company will review the documents and, if you are eligible to sell, authorize the stock transfer agent to remove the restrictive legend.
A legal opinion letter is not sufficient. The TA also contacts the issuer (Company CFO) to get final authority to remove the legends.
So not only did STEVEN YEHUDA MOSKOWITZ write the David Bomart letters in his characteristic mispelling, broken grammar, and miscapitalized format seen in all his other emails and letters, but even AFTER the Bomart letters were faxed to the TA from Moskowitz's own fax machine, the TA still has to send copies of everything that was submitted to the TA on to the Company CFO and get final authority from the CFO - which also coincidently happens to be STEVEN YEHUDA MOSKOWITZ.
The felon who is convicted of securities fraud and who is going to Federal prison.
AI
