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Pastimes : Georgia Bard's Corner
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To: Crossy who wrote (898)4/29/1998 10:11:00 PM
From: Ga Bard   of 9440
 
Hey HEY HEY ... Good post I have come up with the same except for....

Regarding the 144s filings: where the board meeting is required to release the "restricted" status: perhaps they did some sort of "delayed filing". Is this legally possible ?

To my knowledge whether they are in business or not they have to follow the rules of the SEC on the selling of 144 stock. They have closed the doors and shut off the phones. They have registered the 144s in unknown category. Now I cannot find the minutes NOR the 10K which is required to be done before the restricted shares restrictions and legends can be removed. IF they are or have sold those shares we should be able to find the 10K and the board's decision on this matter. Heck from what I have read the board is apparently split on this issue/

TYPICAL SET UP FOR A SHELL SITUATION that is becoming to get filled.

Now I agree on that and the China contract does exist and I doubt they are going to walk away from it either.

They list the people filing the 144s as type "U" or Unknown. What about this ? Shouldn't there be IA (Invest Adviser), V (Vice Prez) or the like ??

This is typical in companies out of business they just do a general 144 and do not list their name. However this is strange to me also.

Now I will give you a bit of DD I have come up with. Check out the SEC filings for a company called OverLine about 10 years ago and read the last SEC filings. Then read the first ones of MEGH.

Now you appear to be savvy enough to see if you vcan find what I have. I am making calls to verify some of the information. Should get most of it done by tmorrow I hope.

GB
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