Replies to post #116582 on Good Vibrations Shoes Inc (GVSI)

[LCLiving]

Please, without those shares being restricted there would not be any issue. If they were free trading they would have been sold long ago. It's common sense, and also experience as I've dealt with these issues before.

[Hi_Lo]

You've created an entirely fabricated narrative involving the restrictive legend.

So have you:

The flaw with this speculation is that a) not all eight defendants would have requested the restrictive legend removed at the same time, and b) the legend couldn't be removed until GVSI satisfied current disclosure requirements, which didn't happen until yesterday.

So nobody was trying to get the legend removed prior to the lawsuit being filed in January.

Except my assumption is based on Rule 144, which requires that the company be current with all disclosure requirements prior to removing the restrictive label.

So... my understanding is that no attorney would send an attorney letter requesting that the label be removed until it was current, which happened yesterday.

And being restricted is an issue, but they couldn't get the legend removed from at least 2016 until now because GVSI wasn't current. It doesn't reflect whether they are valid shares or not in any way.