This entry is part 1 of 4 in the series Interpretation of Rule 144
Interpretation of Rule 144

I have spoken to several attorneys about the new Rule 144 changes that took place in February of this year and there appears to be mixed opinions as to how the rule applies when you are backing a company into an OTCBB shell that is dormant, has no assets and is reporting to the SEC as a “shell company”.

Most aspects of the new Rule 144 have improved the conditions for principals of shells and industry professionals who facilitate reverse mergers. In the final version of the new rule the SEC changed the way shareholders of former shells that check the “shell company” on their SEC filings were treated. Shareholders must now wait one year, not six months, to have the exemption from registration available from Rule 144.

Series NavigationInterpretation of Rule 144 – Part 2»

Bookmark to:
Add 'Interpretation of Rule 144 – Part 1' to Del.icio.us Add 'Interpretation of Rule 144 – Part 1' to digg Add 'Interpretation of Rule 144 – Part 1' to FURL Add 'Interpretation of Rule 144 – Part 1' to blinklist Add 'Interpretation of Rule 144 – Part 1' to My-Tuts Add 'Interpretation of Rule 144 – Part 1' to reddit Add 'Interpretation of Rule 144 – Part 1' to Feed Me Links! Add 'Interpretation of Rule 144 – Part 1' to Technorati Add 'Interpretation of Rule 144 – Part 1' to Socializer