hey guys/girls, go back and read a few of my posts over the last week. The TA will send our certs to our respective brokers, who will in turn use them to validate our accounts and strike that quantity of shares from our accounts. Keep in mind they may very well continue to show in your gainskeeper, as this is a third party service that our brokers do NOT control the content of.
The reason it is done in this manner is for broker liability. They are responsible for our shares until they receive/forward the certs to us. Once they validate the certs and mail them to us, they will no longer be held accountable for that quantity of shares, and we are free/forced to contact any broker we choose to assist in the sale of these restricted shares.
I say free/forced because some brokers refuse to handle restricted shares, so you may have to seek out an alternate broker, and my understanding is our northern friends in Canada will have a difficult time finding a broker that will accept otcbb and below certs because of a new law up there.
The one year portion of our two year restriction under SEC rule 144 will be over next month. At that time, we will be eligible to sell 1% of the O/S each 90 days....AFTER the appropriate rule 144 paperwork has been filed and accepted of course. That info and process may be obatined through the broker that will be handling the sale for you...for a fee of course. GL
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