Sorry, but BLULLISHS' information is wrong if we are trying to imply that all these toxic note holders are holding on to restricted shares of PLKD stock!
Every toxic convertible note holder receives 144 restricted shares when they convert heir notes. They do this in order to get a Rule 144 exemption to have the restrictive legend removed with a legal opinion.
It's the only way to get free trading shares of stock out of a company without doing a registration statement which can take months to approve.
Each and every share of restricted share listed on Blullishs' post has already had the restriction lifted and was sold into the market.
Hence, the increase from 97 million to 4.55 billion shares outstanding for PLKD since Sept. 2013.
Every toxic convertible note holder received 144 restricted shares when they convert. They do this in order to get a Rule 144 exemption to have the restrictive legend removed with a legal opinion.
It's the only way to get free reading shares it if a company without doing a registration assessment that can take months to approve.
Each and every share of restricted share listed on Blullish's post has already had the restriction lifted and was sold into the market.
Hence, the increase from 97 million to 4.55 billion shares outstanding for PLKD since Sept. 2013.
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