according to john that is wrong.
The unrestriction process is not instantaneous, it takes a few weeks to get them unrestricted I imagine.
e-mail from John
JBII is conducting a small PIPE to payout all of the PakIt and Javaco debt and to have a number of P2O processors manufactured in China. This PIPE will close soon. Any stock purchased from the company is restricted for 6 months due to rule 144. You would not have to wait for a registration statement for the shares to be freely tradable. Registration of shares are usually requested so that warrants acquired in a PIPE can be executed and sold without restriction. There are no warrants in this PIPE.
As I've stated before, I will be exchanging most of my stock for
preferred so that the shareholders are not diluted when the PIPE is done.
Regards,
John Bordynuik
CEO
JBI
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