very confusing yes - baffled why jb did not call a private placement a private placement.
my understanding is with a private placement "investors receive significant (or “material”) information concerning securities being offered for public sale" by law.
i hope they got more than a brochure.
but to call an ipo that is not an ipo and a pipe offering that is a private placement
is misrepresentation from where i sit. different rules of initial disclosure apply.
sure hope the investors recieved the required information for a private placement.
............
Ok now I am getting confused. PIPE and PP are typically interchangeable in layman's terms, no? The current hold up is due to the "Adequate Current Information" requirement as part of Rule 144. They are in affect acting as a non-reporter ATM so they would have the non-reporting requirement for holding at 1 year for non-affiliates.
Both offerings were REGDEX Rule 506es.
The previous "hold" for the Kidd shares was attributed to the Shell status waiting period whose clock started ticking when the "Super 8K" was filed.
Aside from the ability-- or lack thereof -- to get the restricted legend removed, would still like to unravel the weird equity transactions from the 1st JBI. Steve has been doing a good job of poking/prodding, but it is still a head scratcher...
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