Ben Ezra Weinstein (BNEZ) Message Board

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Microcap & Penny Stocks : Ben Ezra Weinstein (BNEZ)

BNEZ 0.00

Sep 18 5:00 PM EST

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To: Leroyt who wrote (3160)	10/3/1998 6:44:00 PM
From: otcbbbaby	Read Replies (1) of 9391

Leroyt: A 506 is a private placement. The only form filed with the SEC is a Form that lists the offering. Its not full of much info other than that. Shares sold in a 506 (named after Rule 506 in Regulation D of the Securities Act of 1933) are RESTRICTED and are legended under Rule 144 (also part of Regulation D). A legend is just what it sounds like....words that restrict how the stock can be sold. Under Rule 144, shares that are restricted cannot be sold for a year. Even when the year is up, the shares are released from restriction by a formula. A holder can sell either 1% of the float or 1% (I think its 1%) of the previous month's trading volume. Keep in mind that Jack and Mikey could have bought more shares this way, and if they did they have even more limitations on when and how they can sell. Employees cannot be paid in stock, btw, very easily. Hope this helps. otc

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