to continue....
1) Public (and private, to a limited degree) use LETTERED, or treasury stock to a. buy companies, services, goods, etc b. secure debt c. pay off debt as I noted in the previous post d. charitable contributions e. attrach personnel that is too expensive for cash only f. incentive plans, g. any other transactions that can be done with cash.
2) LETTERED stock is issued directly from the co instead of being bought on the open market. Therefore, the SEC requires that it be held and not sold for 2 yrs ( used to be 3) just as you were told in the response you should have read. Such stock, if issued in an actual certificate, has RESTRECTED writted in large red LETTERS across the front to insure that it is not sold. If is is not paper, but just in the computer inventory at the transfer agent, the stock is also distictly flagged.
3) My educated guess is that the man you are attacking was probably paid in ALL stock or in a combination of stock and cash. Now. He has held this stock for 2 yrs, gathering no interest, and he may even have out of pocket expenses against it. Just think, you have had $25 to 30K for 2 yrs that you could not spend....and, as they wrote, he has ALREADY paid taxes on its income!!!!! Are you beginning to catch on???
to be continued....... |
