Replies to post #80962 on ERHC Energy Inc (ERHE)

[rocky822]

Well, I think if he filed the 144 then he would have to file the Form 4. (P.S. Happy birthday!)

Form 144:

A form that must be filed with the SEC when an executive officer, director, or affiliate of a company places an order to sell that company's stock. Also known as Rule 144.

There are five basic requirements fill in order to sell under 144:

1. The form must be filed properly.
2. Adequate current public information must be available. For example, required reports such as the 10K and 10Q forms must have been filed with the SEC.
3. Volume limitations have to be met. One limitation is the sale must not be greater than 1% of outstanding shares.
4. The transaction must be made by a stockbroker in accordance with certain procedures and rules.
5. If the securities are restricted, then they cannot be sold until one year after the date the affiliate paid the entire purchase price.
http://www.investopedia.com/terms/f/form144.asp