IMO he is just trying to get the share issue straight stumiller-- there is nothing in regulations that I see that does not make the shares free-tradable soon... the only argument is if he will live up to the agreement and given what people are saying about his character, I question that...
If Steve is correct 1.) it does not appear illiegal, and 2.) even if it were so, SEC enforcement action typically doesn't happen for a few years after the incident(s)
So truth be told you are on your own from a present-time trading perspective. Read the filings and read the rules associated with holding times; it's pretty clear...
What is however a little fuzzy is the REGDEX 506 placement using assumed treasury shares that the CEO turned over-- haven't come across that kind of transaction before. Added to that was the consummation that apparently occurred in August but wasn't finalized until Dec-- interesting and you don't have the actual agreement so you can't get a firm commitment to "hold period."
... and I wonder if there even is one considering the shares came from the treasury...
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