We can't sell BDCI shares on the open market yet. But that does not mean TGGI can't make a deal which involves TGGI, BDCI and an unnamed third party. If TGGI wanted to sell, say, 50M shares, and could find a single buyer what would agree to not sell (as TGGI has) then a sale could be made to the third party with BDCI blessing.
The 1% stipulation is to prevent share dumping, which would hurt the share price.
From Matt's description, that is what I think is happening. He didn't say he was selling shares back to BDCI, and they probably don't have the cash anyway. But a third party could very well be involved.
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