This is for you ergo:should put this to rest with ya..just received this back from shawn..hope this helps ya out:
Hey Steve
This is a valid question asked by the poster however his due diligence is incomplete here is why
!)The December date given is when the agreement was entered into and the closing date was February 13 2008 thus any shares that would become free trading would become free trading on the closing date not the agreement date (see Feb 14 2008 8K)
2) Not all shares come unrestricted at this time out of the 27 734 603 that are restricted Daryl English owns 3.324,767, Earl Switenky owns 7,381,781 and Joseph Swanson owns 3,324,767 this totals 14,031,315. These shares fall under Director Restrictions so even if they want to sell then (which I know they don’t) they could only sell minimal amounts into the market. This leaves 13,703,288 of the restricted float that can possibly be sold these shares are held by people close to Purio and investors that did invest privately in Purio. This is similar to a private placement if the company was public. That means there is a price or cost to the shares I believe the raise was done between .25 cents all the way to .50 cents far less then you can buy the stock for today. What I don’t know at this time (being Sunday I can’t ask Purio’s legal council) is if they fall under a limit as to how many shares they can release into the market. With this being said these investors are true believers in Purio that would be crazy to sell in February as they have been investor for some time and truly believe in Purio and its enormous potential. I will follow up with you after I hear from Purio’s legal council.
Thank you
Shawn Van Damme
Purio Inc,
Investor Relations
1-877-512-1120
Svd@puriowatertech.com
www.puriowatertech.com
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