Common sense would dictate that if a 504 is in play it is because the shares are free trading. Otherwise, TSHL would issue 144 stock like they have for everything else. Investors putting up hard cash for up to $1MM are in it to make money, not wait a year on a stock trading at .0005. They are smarter than that. Usually the investors are issued stock at a discount to market price and are able to trade immediately with no limits.