6 “Public Float” shall mean the total number of unrestricted shares not held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a “control person”), or any affiliates thereof, or any immediate family members of officers, directors and control persons.
Not sure what the holding period was? Not sure why they are still restricted? Nevertheless, most times after conversions are allowed, you just need an attorney letter of opinion to release them. The letter is only good for the quarter. Then a new letter is required. That’s been my personal experience with my restricted in the past.
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