This entry is part 2 of 4 in the series Interpretation of Rule 144
Interpretation of Rule 144

Previously, many shareholders in reverse mergers did not have Rule 144 available to them as they do now. The SEC has also eliminated certain volume restrictions that were mandated prior to the rule changes.

Also included in new Rule 144(i) is the following: if a company ever was a shell company, past or present, then the company must be current on its periodic SEC filings for 12 months before 144 is available. The new rule is also retroactive. This rule applies to all companies even larger ones like the NYSE or Berkshire Hathaway, who became public company via a reverse merger eons ago. Interesting to note is companies who are late with their filings and get caught up and become current can still attempt to use 144.

Series Navigation«Interpretation of Rule 144 – Part 1Interpretation of Rule 144 – Part 3»

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