"it clearly states the TAUG uses Rule 144 for the issuing of private placement shares."
No, it doesn't. I hope you don't get a bill for that because you either didn't read it or you don't understand it.
"Rule 144 is a safe harbor that allows the public resale of “restricted” securities originally issued as part of a private placement (i.e. an offering not registered with the SEC)."
When you finally figure out what the words "public resale" mean you might be able to understand what your own lawyer and I are saying.
TAUG shareholders should be afraid, very afraid.
By the way, the lawyer came withing a mustache hair of answering the question that I've been asking and that you should have asked. He described a few of the exemptions that the company might have availed themselves of to avoid filing a full registration statement (Section 4(a)(2) and Regulation D Rule 504,505 and 506). He says "A Form D is required 15 days after first sale if this exemption is used." NORMALLY...and I'm finding out that the corporate governance here is anything but normal, one could conclude that because no Form D was filed the company must have relied on the exemption provided in Section 4(a)(2). I wish he had specifically said that rather than leaving people to guess it based on the process of elimination. That way I would have had the answer I'm looking for and an end could be put to this nonsense.
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