Replies to post #44381 on Marijuana Inc (MAJI)

[e-ore]

Yes, absolutely he can stop restricted shares from becoming free trading. "the transfer agent won’t remove the legend unless the issuer consents" And he's CEO and majority owner of the issuer, so he must have allowed the 6 million shares to become free trading. Or it was done without his knowledge

"Even if you’ve met all the conditions of Rule 144, you still cannot sell your restricted securities to the public until you’ve had the legend removed from the certificate. Only a transfer agent can remove a restrictive legend. But the transfer agent won’t remove the legend unless the issuer consents—usually in the form of an opinion letter from the issuer’s counsel to the transfer agent."
https://www.sec.gov/fast-answers/answersrestrichtm.html