They have to obtain a lawyers opinion letter and go through the TA to have new certs issued without the restriction.
Then they have to find a broker that will accept the certs, deposit them, wait for them to clear and then they are available for sale.
how many lawyers would you like? there are 100's if not 1000's of lawyers who do opinion letters and the brokers will line up for the certs .. it happens everyday'
Easy enough to call brokerages and find out of they will accept OTC company certs. People saying that the day the restriction lifts, will be the day millions of shares will hit the market are Wrong.
1. It takes time to get a restriction lifted.
2. Who knows what will happen by the time new certs are issued.
3. Who is to say that these people will sell. Isn't it more likely they will hold to reap larger rewards once Plastic2Oil production starts and spreads worldwide? They obviously believed in Plastic2Oil when they invested. And Plastic2Oil has been proven to work. So nothing has changed there.
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.
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