News Focus
News Focus
icon url

Bigwitz

07/11/13 9:16 AM

#10209 RE: doughboy2 #10206

$SNTL do ur REAL DD on RULE 144 in regards to "ONCE A COMPANY IS LABELED AS A SHELL RULE 144 WILL NOT APPLY" Instead of constantly posting only less then Half facts for personal agenda. SNTL before Seeker-Tech took over was once a shell. Rule 144 does not apply. SEC 101. Call Broker-SEC attorney, FINRA, Transfer Agent or anyone with a brain that is involved with publicly traded companies.

You are playing out of your league...


http://www.mofo.com/files/Uploads/Images/FAQRule144_145.pdf



Unavailability of Rule 144 for Securities of Shell Companies

What are shell companies?

A shell company, as defined in Rule 405 of the Securities Act, is a registrant with no or nominal operations and either no or nominal assets, assets consisting solely of cash and cash equivalents, or assets consisting of any amount of cash and cash equivalents and nominal other assets.
Can shell companies take advantage of Rule 144?
No, securities issued by a shell company cannot be sold in reliance on Rule 144. Also, Rule 144 may become available for securities issued originally by a shell company that is no longer a shell company if the company:
• is a reporting company;which SNTL is not without a filing
• has filed all required reports during the preceding 12 months (or any shorter period during which the company has been subject to reporting requirements);which SNTL has not because under PINK SHEETS there are no reporting requirements because they have NOT FILED TO BE FULLY REPORTING IE: S1 LIKE I said in the first lesson
and
• has filed current "Form 10 information" with the SEC reflecting that it is no longer a shell company.which SNTL has not
See Rule 144(i).