spira, i just posted about Rule 144. I think you are right on that time frame and restrictions. Basically, 1 year and Mak can't sell unless he files first.
Rule 144's mandatory conditions are the following, and all of the conditions must be met for Rule 144's safe harbor to apply to a transaction, and we'll cover each of the requirements in detail below:
*A potential seller must satisfy the minimum one-year holding period.
*The seller must file a Form 144 with the SEC (unless the transaction is very small, under $10,000 worth of shares).
*There must be "current public information" available on the issuer.
*The sales must be in arm's-length broker transactions, without pre-arrangement or broker's solicitation of orders.
*The seller must have a bona fide intention to sell the shares at the time he/she files the Form 144.
Mak is probably expecting pps to go much higher. However my investment time horizon is out of sync with AAGH so I have to leave. I manage 5 accounts for friends and family, they want to see result at the end of each month. I can't hold. I have to make money on investment.
My commission is also depending on making GREEN at the end of the month.
Unfortunately .. situation forces me to sell instead of hold.
On that note, it was about less than 25% of today volume that brought price down from .23 to .201 Toward the last few min of the trading session, it was very clear to me that someone wanted to create panic because people didn't understand the filing and how 144 works. Now a lot of people will be studying on this and might think the panic selling was overdone and price might go back up tomorrow and higher because some people sold to a longer holders.
This could be what will take this to .40 to .60 but I was forced to sell. If this drops to very cheap, i might just pick up some for my own account for long term holding since I strongly believe that pps shouldn't be traded less than $1 a share, even with 20 million additional restricted shares just added.
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