-144 you describe the rule very well by SEC low.
But unfortunately when it's come to dilution in a penny stock, there is a lot of loop hole in the 144 rule (same as why brokers can still naked stock)
I have fallow this one for some time and i can see there is illegal transaction by ether management or the MM (or they are in this together)
On the 15c2-11 filing they must have information publicly available.
But they can delay this info by 1 or sometime 2 weeks if they want to control the price to there benefit.(its up to how much management is reliable to there share holders)
Rule 144 allows a holder of restricted stock to resell such stock upon the expiration of a one-year holding period, but when they give shares to promote there stock to out side source no one ask why the are giving this stock (I can give you two names that holding restricted stock on CYBL and the don’t know crap about trading)
"144 sellers must also secure an opinion letter to transfer agent", this is in my opinion the best protections on a dilution but then you should ask who keep an eye on the transfer agent??
you will always find some break point on the SEC rules the problem when its come to the penny market because of less inspection by the SEC penny stock are much more sensitive to fall between the crack's when its come to the SEC rules .
Good luck.
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