Replies to post #108320 on NaturalShrimp Inc (SHMP)

[MFranny]

You clearly don't know what Rule 144 actually says re: "control shares" since I quoted from it in my last post and you didn't even realize. IMO. until the Series A are canceled, common shares are not "control securities." Moreover, lock up provisions are not required by law, but are contractual in nature to prevent selling pressure. Literally nothing to do with a black line 5% ownership.

It's obvious when one just regurgitates what they've been told without learning on their own. Toxic financiers don't want to own more than 5% in the event a 13G is required to be filed because they don't want to be on record in that manner. Moreover, filing a 13G in circumstances where common ownership may result in control over management, 5% can be a meaningful thresehold. It's a case-by-case matter. Therefore, to avoid having to stringently review each case, it's a general preference, but not a rule.

[Steady_T]

There is not such thing as a "control shareholder".
There is a "controlling shareholder" which owns more than 50% of the voting shares.

What you are referring to a a reporting shareholder. One that owns 5% of more of the voting rights to elect the board members.