Resales All 92,727,818 shares of our issued and outstanding common stock are “restricted securities” under Rule 144, promulgated pursuant to the Securities Act of 1933, as amended, and 2,489,509 are eligible for resale pursuant to Rule 144.
If the O/S is 92,727,818,
We are authorized to issue 250,000,000 shares of common stock and 10,000,000 shares of preferred stock. As of the date of this Information and Disclosure Statement we had 92,727,818 shares of common stock outstanding and held by 446 stockholders of record.
...then how is it all restricted under Rule 144 ?
But the float is miniscule...
Common Stock (1) (2) (3) (4) Fiscal Year End Fiscal Year End Quarter Ended Period End Date 12-31-09 12-31-10 03-31-11 Common Shares Authorized 40,000,000 40,000,000 40,000,000 Common Shares Outstanding 35,948,272 35,948,272 359,483 Free Trading Common Shares 12,966,272 12,966,272 129,663