Replies to post #41832 on Effective Control Transport Inc. (fka EFFC)

[TheBullTwit]

There's something I missed the first time. That anything on this particular company that was restricted for 1 year, may be available to resell now if it was issued 6 months ago? August ?

Maybe that would explain the huge dump cuz people are expecting another few million shares to be unrestricted starting tomorrow. *sigh*

Any NEW shares being issued must be restricted for a while so companies can't dump anymore.

From http://www.sec.gov/news/press/2007/2007-233.htm

substantially simplify Rule 144 compliance for non-affiliates by allowing non-affiliates of reporting companies to freely resell restricted securities after satisfying a six-month holding period (subject only to the Rule 144(c) public information requirement until the securities have been held for one year) and by allowing non-affiliates of non-reporting companies to freely resell restricted securities after satisfying a 12-month holding period;

[Traderfan]

Thx for posting but that rule doesn't say anyting about the fact that from now on the pinks can't sell any more shares into the market without further notice. The opposite happens. This new rule says that the 144er holding period will get changed from 1 year to only 6 months restricted.....